Oil Minister Says Iran Is Capable Of Solving Global Fuel Crisis

Iran is poised to solve the world’s ongoing fuel crisis and fill the shortages, Iran’s oil minister said Javad Owjic. To that end, he said, the United States would have to lift heavy sanctions targeting the Islamic Republic’s vital oil industry.

Owji made the comments after a virtual OPEC meeting. His statement referred to fuel shortages, which have hit the UK particularly hard in recent weeks amid rising prices and long queues at petrol stations across the country.

The Iranian minister advised Western “decision-makers to learn the lesson” and help with the crisis by lifting “unlawful and unjust” sanctions on Iranian crude oil.

Iran’s political and ideological frictions with the West have taken a huge toll on the oil industry at various intervals over the past four decades. Despite a brief respite opened by the 2015 Iran nuclear deal, the industry felt its deepest pain after the US exit from the deal in 2018. While pursuing his policy of “maximum pressure”, the then US president went Donald Trump out of his way to bring Iran’s economy to its knees by imposing heavy punishments about most countries associated with Iran’s oil industry.

Of Iranian economy largely dependent on its oil, those sanctions have squeezed national revenues and reduced the purchasing power of the public. According to Owji, they have even hit other nations that have “paid the price for this absurdity”. He didn’t elaborate, but noted that those measures are now “reflecting” on the states that have imposed them on Iran.

In the wake of recent fuel shortages in the UK, Iran’s state broadcaster and others hard-line media channels have reported extensively on the “crisis”, emphasizing the “mismanagement”, “public panic” and “battles” of the service station by the British government.

However, as Owji addressed global fuel problems and offered Iranian solutions, local officials in the capital Tehran and the central city of Isfahan were already concerned about the disappearance of domestic supplies. A senior official in Tehran’s governorate said the province will face “fundamental” problems as there is a daily shortage of 150 million cubic meters of natural gas.

Earlier, a spokesman for Iran’s Ministry of Energy sounded the alarm over shrinking gas supplies to the country’s power plants and an imminent repeat of nationwide blackouts that hit many provinces for several consecutive weeks during the blazing summer, sparking public anger and death cries against officials of the Islamic Republic.

Leave a Comment