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US may fail to cut Iran oil exports to zero: Report

DUBAI: The United States will fail to cut Iranian oil exports to zero, as Iran is ready for any US decision to end waivers granted to buyers of Iranian crude, the semi-official Tasnim news agency on Monday quoted an unnamed Iranian oil ministry source as saying.

The United States is expected to announce on Monday that buyers of Iranian oil need to end imports soon or face sanctions, a source familiar with the situation told Reuters, triggering a 3 per cent jump in crude prices to their highest so far this year.

“Whether the waivers continue or not, Iran’s oil exports will not be zero under any circumstances unless Iranian authorities decide to stop oil exports … and this is not relevant now,” Tasnim quoted the unnamed “informed source” as saying.

“We have been monitoring and analysing all possible scenarios and conditions for the advance of our country’s oil exports, and necessary measures have been taken … Iran is not waiting for America’s decision or the lack of it to export its oil,” Tasnim quoted the source as saying.

“We have years of experience in neutralising efforts by enemies to strike blows against our country,” the source added.

News credit : Indiatimes