Iran says it has measures in place to ensure it will continue producing and exporting oil even if U.S. President-elect Donald Trump ramps up pressure on Tehran once he takes office in January.
During his first term in office in 2017-21, Trump withdrew from a landmark nuclear deal between Iran and world powers and reimposed sanctions as part of his administration’s “maximum pressure” policy against Tehran.
As a result, Iran’s oil production dropped from 3.8 million barrels per day (bpd) to 2.1 million bpd, while its exports plummeted to between 200,000 and 500,000 bpd from 2.5 million bpd.
But both production and exports have picked up in recent years despite U.S. sanctions, with Iran’s oil output reaching around 3.2m bpd. Exports, meanwhile, have hit a multiyear high of 1.7 million bpd.
SEE ALSO: Why Are U.S. Sanctions Against Iran's Oil Exports Ineffective?Oil Minister Mohsen Paknejad told reporters on November 13 that Iran has mechanisms in place “to continue selling our oil” regardless of who is in power in the United States.
“We have tried-and-tested methods and don’t have serious concerns about [selling oil],” he said, according to Iranian state-aligned media.
Without offering details, the oil minister said, “necessary measures have been taken by our colleagues in the oil sector in preparation for what is to come and there is no reason to worry.”
Trump is expected to launch a new-look "maximum pressure" campaign against the Islamic republic once he takes office on January 20, 2025.
Iran boosted its oil sales by circumventing sanctions through a variety of means, exporting mostly to China, which does not recognize U.S. measures against Iran.
The tactic involves the ship-to-ship transfer of oil, middlemen, clandestine money transfers, and the rebranding of the oil to mask its Iranian origin.
Iranian crude makes up about 13 percent of oil imports by China, the world's biggest purchaser of the commodity. Beijing says the purchases conform to international law.