Iran denies oil surplus amid US proposal for sanctions exemptions

Iran has no oil tankers currently at sea and holds no surplus crude available for export, a spokesperson for the country’s Ministry of Petroleum said, responding to a proposal by US Treasury Secretary Scott Bennett to temporarily exempt some Iranian oil from sanctions. 

The spokesperson described the US initiative as a psychological tactic, suggesting that Bennett’s statement was intended primarily to influence market sentiment and give false hope to potential buyers, Mehr reports. 

The Iranian official emphasised that the country could not supply additional oil to international markets.

By Sabina Mammadli