U.S can only replace Iranian oil on paper; Iran PM

He said that United State can only replace Iranian oil on paper. The main problem is that when trump card is in our hands, we play passively, and this is our constant problem," he added.

Unfortunately, we still sell crude oil; this will allow the United States boycott us whenever it wants and order that no country can buy Iran oil," khademi added.

Khademi stressed that we must act in such a way that Saudi Arabia and United Arab Emirates knows its production security is at stake.

"Our traditional buyers are China, India, South Korea and Japan when they face a thousand problems prefer not to purchases oil from Iran," the MP said.

Iran’s oil minister is warning that OPEC is “likely to collapse” because some members of the 14-nation group are working against their fellow producers.

The comment appears to be a thinly veiled reference to Saudi Arabia and the United Arab Emirates. The Trump administration tightened energy sanctions against Iran and the White House says the Saudis and Emiratis will work with the U.S. to offset the anticipated drop in Iranian oil supplies.

Saudi Arabia has not explicitly committed to hiking output to fill the gap. After the U.S. announced it would end the sanctions waivers, Saudi Energy Minister Khalid al-Falih said the kingdom would consult with producers and consumers “to ensure a well-balanced and stable oil market.”

OPEC and its oil market allies, including Russia, are scheduled to meet on June 25-26 in Vienna to decide whether to extend their deal to limit oil supply, which has been in place since January and expires at the end of June.

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