Iranian President Urges OPEC Unity Against Potential US Sanctions
Amid renewed threats from Washington to drive Iranian oil exports to zero, Iranian President Masoud Pezeshkian has called on OPEC members to unite against possible US sanctions, Al Jazeera reports.
The appeal comes after President Donald Trump signed an executive order initiating a “maximum pressure” sanctions campaign on Iran, aimed at preventing the country from obtaining nuclear weapons.
Pezeshkian’s remarks were made during a meeting with OPEC Secretary-General Haitham al-Ghais in Tehran, where Iran assumes the rotating OPEC presidency this year. OPEC’s official X account showcased al-Ghais’s visit on Wednesday.
“I believe if OPEC members are united and work together, the US would not be able to sanction and pressure one of them,” Pezeshkian stated, as reported by Iranian state media.
Currently, Iranian crude oil exports stand at approximately 1.5 million barrels per day (bpd), primarily destined for China. The potential loss of this volume, representing about 1.4 percent of the total global supply, would significantly impact international oil markets.
Pezeshkian also outlined strategies to counter US sanctions and maintain economic stability, emphasizing self-reliance and regional cooperation.
President Trump’s “maximum pressure” campaign was initially launched during his first term after he withdrew the US from the Joint Comprehensive Plan of Action (JCPOA), also known as the Iran nuclear deal. The JCPOA, negotiated under the Obama administration, involved Tehran curtailing its nuclear program in exchange for sanctions relief.
The Trump administration’s initial sanctions, implemented between 2017 and 2021, resulted in a drastic reduction in Iranian oil exports, plummeting to as low as 200,000 bpd during some months in 2020. In 2018, OPEC and its allies agreed to increase oil production in response to Trump’s urging to offset supply disruptions caused by the sanctions on Iran.
Despite ongoing US sanctions, Iran’s oil exports rebounded to their highest levels since 2018 during President Biden’s term.
