GENEVA: US sanctions against Iran's oil industry will damage the stability of global oil markets, a senior Iranian official was quoted as saying on Monday. U.S. sanctions make life more difficult for ordinary Iranians but the Islamic Republic will get through them, Zamaninia said. Other countries can not fill Iran's place in the oil market, Zamaninia said, according to SHANA. "This idea that some countries can fill the empty place of Iran's oil in the market is incorrect from different aspects, including a technical and political view," Zamaninia said. Iran's oil minister Bijan Zanganeh said last week that Saudi Arabia and UAE overstate their oil capacity.

Source: Mint April 29, 2019 12:00 UTC