Iran will not allow any country replace its oil sales in the global market, the Foreign Ministry said on Thursday, after the United States told importers to halt Iranian purchases from May. Washington has decided not to renew its exemptions from U.S. sanctions against Iran that it granted last year to buyers of Iranian oil.
A senior U.S. administration official said on Monday that President Donald Trump was confident Saudi Arabia and the United Arab Emirates would fill any gap left in the oil market.
“The Islamic Republic of Iran will not allow any country to replace Iran in the oil market. The United States and those countries will be responsible for any consequences,” Iranian Foreign Ministry spokesman Abbas Mousavi said. Raed More