Iranian Oil Minister Javad Owji says removing sanctions from Iran’s hydrocarbon sector would be key to resolving a global energy crisis that has affected supplies in many Western countries.
Owji said on Monday that people in the United States and some European countries have been paying the price for the unwise policies of their leaders who have banned crude exports from Iran as one of the leading energy suppliers of the world.
The minister made the remarks while speaking after a meeting of OPEC+ alliance of oil exporting nations.
He was referring to fuel, natural gas and electricity problems reported on both sides of the Atlantic amid rising prices and increasing demand caused by the global recovery from the coroanvirus pandemic.
“My recommendation to the decision-makers in these countries is that they should take a lesson from the current circumstances and lift sanctions from Iran so that people in all regions can benefit from cheap and accessible energy,” said Owji.
Iran has seen its oil exports slashed to levels much lower than those reported in mid-2018 when a former US administration pulled out of an international agreement on Iran’s nuclear program and imposed sanctions on the country.
A new US government has been pressing for a revival of the 2015 nuclear deal that would lift sanctions from Iran’s energy exports.
Beside its huge crude production capacities, Iran is also a leading supplier of natural gas with a current production of over 1 million cubic meters per day.
Owji said Iran has repeatedly declared that it would be able to swiftly increase its crude production to help alleviate the global shortage of fuel.
He said the current shortages could have larger implications on the livelihoods of people in the West in future if policymakers do not properly tackle supply issues.