Oil Minister Says Iran’s Oil Exports Will Not Be Shut In by Snapback

Iranian Oil Minister Mohsen Paknejad said on Friday a return of sanctions under the so-called “snapback” may create restrictions on oil exports but Tehran has learned to bypass them, Iran’s state media reported.

Britain, France and Germany on Thursday launched a 30-day process to reimpose U.N. sanctions on Iran over its disputed nuclear programme, a step likely to stoke tensions two months after Israel and the United States bombed Iran.

“We have faced restrictions on oil sales for years, and this has led to us gaining the necessary expertise in bypassing sanctions,” Paknejad told state media. “Naturally snapback may create conditions requiring new measures but we are not tied down by these restrictions.” - BOE Report