TEHRAN (Press Shia Agency) – Iran is selling its oil in the grey market in an effort to bypass the illegal US sanctions, an Iranian deputy oil minister said.

– Politics news –

Addressing an academic conference in Tehran on Sunday, Amir Hossein Zamaninia said Iran has mobilized all efforts and is selling its oil at the grey market after the US government decided to end the waivers granted to buyers of Iranian crude.

“This is not called smuggling, but rather countering the sanctions which we do not deem fair, legitimate or legal,” he added.

“We discovered a market and are selling oil in a grey atmosphere,” the deputy minister said, stressing that the Islamic Republic will be “capable of resistance” if the government’s policy requires.  

Asked about the amount of Iranian oil sales at the grey market, Zamaninia refused to give a number, saying this would enable US Secretary of State Mike Pompeo to devise new plots against Iran.

“I cannot provide a description of the grey market,” he added.

The deputy minister went on to say that the US sanctions against Iran would result in corruption in the global oil market because of reduced transparency, adding, “Should we offer enough discount, we will be able to sell oil to (US President Donald) Trump himself.”

In comments last week, Zamaninia emphasized that it is technically impossible to replace the lost share of Iran in the global oil markets.

“The notion that certain countries could fill the vacuum of Iranian oil is wrong in various technical and political terms,” he said.

In remarks on April 24, Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei said the US’ attempts to block the export of Iranian oil will get nowhere as Tehran will be exporting any amount of crude it needs and wants.

Describing a cut in Iran’s reliance on the export of oil as an opportunity, the Leader said such an opportunity will be used for further reliance on internal capabilities.

“Although the sanctions pave the way for problems in certain cases, they will benefit the country if they are dealt with correctly and logically,” Ayatollah Khamenei said.