Iran ready to tackle US sanctions with 'grey market' oil transactions
- Country:
- Iran Islamic Rep
Iran has mobilised all its resources to sell oil in a "grey market", bypassing U.S. sanctions that Tehran sees as illegitimate, state media quoted Deputy Oil Minister Amir Hossein Zamaninia as saying on Sunday.
The United States told buyers of Iranian oil to stop purchases by May 1 or face sanctions, ending six months of waivers that had allowed Iran's biggest customers to import limited volumes.
"We have mobilised all of the country's resources and are selling oil in the 'grey market'," Zamaninia was quoted by state news agency IRNA as saying. "This is not smuggling. This is countering sanctions which we do not see as just or legitimate."
(With inputs from agencies.)
ALSO READ
UK unveils new extremism definition amid rise in hate crimes against Jews, Muslims
Soccer-Australia coach Arnold recalls Taggart, Hrustic for Lebanon qualifiers
Pilot seat movement a focus of probe into LATAM Boeing flight, report says
Putin asks voters, including in annexed Ukrainian areas, to determine Russia's future
FOREX-Currency market subdued ahead of fresh US economic data