A former Iranian Oil Ministry official says Tehran can always sell its oil through intermediaries and brokers in order to avoid the sanctions.
Kazem Vaziri Hamaneh told ILNA on Wednesday; “Selling oil to brokers will mean a rise in the cost of sales and transportation and perhaps discounted prices, which will result in lower revenues, but such a reduction is not a high price to pay for the main issue, which is resistance against force and bullying.”
He added that his 40 years of experience in the oil industry allows him to say with certainty that there will be little problem for Iran to export its oil.
The former oil minister went on to report that the Iranian government has established a crisis committee to deal with the sanctions and the purchase of equipment and parts.
The EU has imposed an oil embargo on Iranian oil, and the United States has announced that it will take punitive measures against countries and companies that buy Iranian oil. The sanctions are aimed at forcing Iran to accept their conditions for its nuclear activities.
Bloomberg reported this week that NITC, an oil-tanker company owned by Iranian pension funds, has renamed at least 10 of its ships and is running them under Tanzanian flags, which allows them to evade U.S. and EU sanctions.