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Iran is ready to supply oil to Europe if sanctions lifted

The Iranian-flagged oil tanker Fortune is docked at the El Palito refinery in Venezuela on 25 May 2020 [AFP/Getty Images]
The Iranian-flagged oil tanker Fortune is docked at the El Palito refinery in Venezuela on 25 May 2020 [AFP/Getty Images]

Iran is ready to supply oil to Europe should sanctions imposed on it over its nuclear programme be lifted, spokesman of Iran's Foreign Ministry Nasser Kanani said yesterday.

AFP reported Kanani saying: "Given Europe's energy supply problems triggered by the Ukraine crisis, Iran could provide Europe's energy needs if sanctions against it are lifted."

"We hope an agreement will be reached to let Iran play a more efficient role, with the aim of providing the energy needed for countries around the world and for European countries."

Iran is engaged in talks with world powers to revive the 2015 nuclear deal, which the US unilaterally abandoned in 2018, imposing "unprecedented sanctions" on the Islamic Republic.

Iran has the world's second largest natural gas reserves, after Russia, but lacks the infrastructure to increase exports, which are currently limited to Iraq and Turkey.

Tehran and the six other parties to the 2015 nuclear accord – Britain, China, France, Germany, Russia and the US – have been negotiating a return to the agreement.

READ: OPEC+ cut oil production fearing economic downturn

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