Minister: New oil contracts to help lift sanctions

TEHRAN (Tasnim) – Iranian oil minister said a new model of oil contracts, recently put forth by the country’s oil ministry, would result in lifting the economic sanctions imposed on Tehran.

Speaking to the Tasnim News Agency on Saturday, Oil Minister Bijan Namdar Zanganeh said the existing sanctions have not only created tougher trade conditions for the Iranian companies, but have also limited the free trade activities for the western firms.

He pointed to the attractiveness of the new oil contracts and the growing willingness by the western companies to cooperate with Iran in oil sector, and stated, “Given the attractiveness of the new model of oil contracts, the western unilateral sanctions on Iran will be further loosened and, somehow, the new contracts will help lift sanctions.”

He explained that providing proper conditions for the free trade, which is the ideal trade model for all international organizations and bodies, will be possible only by the removal of all sanctions.

Meantime, the minister said the existing sanctions have failed to isolate the Iranian oil industries, and noted that the industry will continue development with, or without the sanctions.

The Iranian oil ministry has prepared a new, updated model of oil contracts which are said to be much more attractive to the international companies that are vying for investment in Iran.

Earlier, a deputy oil minister had said that Iran had embarked on the revision of its oil contracts with other countries, noting that the initiative comes in line with the country’s move to boost interaction with the world countries.

“Simultaneous with the outset of (nuclear) negotiations with the (Group) 5+1, Iran has started to revise the oil contracts, which signifies Iran’s interaction with the world in the economic and political arena,” Deputy Oil Minister for International and Commercial Affairs Ali Majedi said.

“We hope that the world gets the message of Iran’s interaction,” he added.

The deputy minister further called for a new global attitude towards the country, and added, “The world’s view on Iran should change, and we should help this change of view happen.”

“By revising the oil contracts, simultaneous with Iran’s interactive approach in the political arena, we are pursuing to change the world’s view on Iran,” Majedi pointed out.

By Tasnim News Agency


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