EU can absorb 1.5 million barrels of Iran’s oil: Expert
A member of the Energy Studies Institute has said that replacing parts of Russian oil with Iranian oil is theoretically possible, but this issue depends on political issues.
If the JCPOA problems are solved, a big part of the increase in Iran’s oil production for export to the world's markets will be absorbed by the EU because the EU is seeking to reduce its dependence on Russia seriously, Morteza Behrozifard said in remarks to ILNA.
Anyway, replacing parts of Russian oil with Iranian oil is theoretically possible, but in fact, this issue depends on political matters, he added.
He emphasized that the EU can easily buy 1 million to 1.5 million barrels of Iran's oil production and exports, adding that given that Russia sells oil at a high discount, China has no intention to enter the oil trade with Iran even if Iran’s sanctions problems and the JCPOA are solved.