Iran's Oil Official Expresses Hope for 'Complete Lifting of Sanctions' by December

Amir Hossein Zamani-Nia, Iran's Deputy Oil Minister, has expressed hope that international sanctions against Iran will be 'completely lifted' by the end of December this year. According to a report on June 4 by the Oil and Energy Information Network, Shana, Zamani-Nia noted that the Geneva Agreement and the Lausanne Statement 'changed the game in nuclear negotiations', stating that 'the structure of sanctions is gradually collapsing and we should expect the complete lifting of sanctions by December'. The Deputy Minister of Oil for International Affairs and Commerce said, 'After the potential agreement on July 1, we can expect the complete lifting of economic and banking sanctions around December, and if sanctions are lifted, Iran will become the focal point of oil and gas projects in the world.' Iran and six world powers reached a temporary nuclear agreement in Geneva in the fall of 2013 and also reached an agreement on the framework of a comprehensive nuclear deal in April of this year. The parties are now working to reach a comprehensive nuclear agreement by July 1. In recent months, several large economic delegations from European countries have traveled to Iran, and officials from the Ministry of Oil have reported on the willingness of Western companies to return to Iran, provided that sanctions are lifted. The Deputy Minister of Oil stated, 'In the few months of my presence in the Ministry of Oil, we have had extensive negotiations with high-ranking officials from countries such as Germany, Italy, France, Austria, Brazil, Poland, etc., regarding their presence in the oil industry after sanctions.' Mr. Zamani-Nia was appointed as Deputy Minister for International Affairs in the Ministry of Oil at the end of December last year. He is also a legal member of Iran's nuclear negotiation team with six world powers. This oil official pointed to the Ministry of Oil's plan for a $200 billion investment over the next six years, stating, 'In the current global conditions, this level of investment will undoubtedly be very attractive to large companies.' From 2006 to 2010, six UN resolutions against Iran were passed, four of which included sanctions. The United States and the European Union also imposed heavy sanctions against Iran in mid-2012 targeting Iran's oil sector and banking system. According to the U.S. Energy Information Administration, Iran has not been able to open a new oil field since 2007. Meanwhile, Iran's oil exports have more than halved since 2012. Before the sanctions, Iran exported 2.5 million barrels of oil daily, but this figure fell to about one million barrels in 2013. Under the influence of the Geneva and Lausanne agreements, Iran's oil sales have increased somewhat and reports indicate that in recent months it has risen to over 1.2 million barrels per day.