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Iran Increases Oil Export on Sanctions Removal Day: President Rouhani

(Sunday, January 17, 2016) 17:56

TEHRAN, Jan. 17 (Shana) – President Hassan Rouhani said on Sunday that Iran has started increasing its export of crude oil on the Implementation Day of the nuclear Joint Comprehensive Plan of Action (JCPOA).

“Some outcomes of the removal of sanctions are immediate. For example, we increased export of crude oil as of today and also some 1,000 LCs were opened just today by the banks which used to be under sanctions,” he told a press conference after announcement of the sanctions withdrawal earlier in the day.

Iran had announced that it is set to increase oil exports as soon as sanctions are removed for 500,000 barrels a days and that it will further add it to another 500,000 barrels in a short span of time.

President Rouhani also said Iran will continue following the policy of resistive economy in the post-sanctions era.

The next year’s draft budget bill which was submitted to the Parliament on Sunday has the least dependency on crude oil revenues, he added.

During the question-answer session with domestic and foreign media, Rouhani said Iran’s private sector will be revitalized to employ the opportunities in the wake of removal of sanctions.

To a query on Iran’s reaction to a possible change in the US policy in future by the hardliners regarding the nuclear deal with Iran, he underlined that Tehran will proportionately react to such likely breaches of the agreement.

“There is no ground for resumption of the UNSC sanctions… And the US government’s commitments within JCPOA shall continue under UNSC Resolution 2231 regardless of the party taking power in its hands.”

He added that Iran is ready for the investment and technology transfer by US companies in Iran noting that limitations in this regard lie on the other side.

“If Americans want to invest in Iran, there is no limitation here. Recently, they provided facilities for sale of commercial planes (to Iran) and removed barriers on export of some Iranian goods,” he said.

Asked on future relations with China and Italy, President Rouhani said Iran will not forget the friendly countries that remained in trade contacts with the Islamic Republic and will increase its ties with them after sanctions removal.

He also criticized Saudi Arabia and certain Islamic countries in the region which negatively reacted to the withdrawal of sanctions in a fellow Islamic country.