TASS - Russia’s oil major Lukoil will not sign the contract with Iran on the Mansouri oilfield until anti-Iran sanctions are lifted, Chief Executive Officer Vagit Alekperov said on Monday.

"Sanctions that have been imposed against Iran, do not allow us to invest in projects there. In the middle of the year, we actively worked at the Mansouri field, the contract is almost ready, we are currently finalizing it, though the signing is unlikely - we will not sign it until sanctions are removed," he explained.

A new round of US sanctions against Iran took force starting November 5. They cover Iran’s oil exports and more than 700 banks, companies and individuals. However, the US authorities granted temporary waivers for eight countries, among them Greece, India, Italy, China, Turkey, South Korea, Taiwan, and Japan. By various estimates, Iran’s oil export has already decreased by 1 mln barrels per day.