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It is unfair to demand from Iran’s frozen oil

Несправедливо требовать от Ирана заморозки добычи нефти

Iran, which only began to ramp up oil production and send it for export to European countries following the lifting of sanctions in January, has every right not to “freeze” the production of black gold. To demand from this country is unfair, said the head of the energy Ministry of Russia Alexander Novak.

“We understand Iran’s position, which only came out of the sanctions regime. Today, the increase in the production of Iranian oil does not seem fair to this country. Therefore, the situation we will discuss,” – said the Minister on air of TV channel “Russia 24”.

On the eve representatives of Iran has turned down offers to record the amount of OPEC oil production at the January level, which should in turn lead to an increase in the cost of a barrel on the world market. The main reason is the unequal position of producing countries: talking about “freezing” is possible only when many of the parties to the agreement (primarily Saudi Arabia) will reduce output, while Iran, on the contrary, will be released on desanctions level.

Sanctions against Iran were to withdraw on January 17 of this year. Since then, the country is trying to restore and increase oil production. At the end of January the reserves of Iran amounted to 40 million barrels. Experts say that the resumption of supplies from Iran will have a big impact on the world oil market.

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