IRNA � The chairman of Iran's Majlis (parliament)Energy Commission announced formation of a joint committee by members of the country's executive and legislative bodies to review buyers of the Iranian oil and set up mechanisms to collect oil revenues under sanctions.


Fereydoun Hassanvand said on Saturday that the committee, set up with the purpose of using the capabilities of government and parliament during sanction era, is represented by delegates from the Management and Planning Organization, Ministry of Oil and Majlis Energy, Planning, Budget and Audit Committee.

Hassanvand added that the committee, in view of the possibility of US oil sanctions against Iran, should examine competence of the buyers, how to collect oil revenues, safe alternatives for selling the Iranian oil which are consistent with the International principles and laws, are not fraudulent and do not lead to manipulations on the side of the buyers.

The Chairman of Majlis Energy Commission affirmed that the joint committee is held accountable to Supreme Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei.

He said that the committee should carry out its activities using all available capabilities, which could then be the effective factor for reducing the sanctions' pressures and helping increase the country's oil sales and revenues.