American sanctions? In Iran they scoff: "Oil exports continue at this moment"

Iranian Oil Minister Mohsen Paknejad was asked by a local reporter on Thursday whether Iran's oil sales had ceased following the imposition of American sanctions. The minister expressed surprise at the question, stating that while sales have indeed decreased in recent months, they are continuing at this very moment.

The minister added that Iran has worked in recent months to move oil to convenient locations where it can be transferred to various customers: "Up to this moment, the process of selling oil outside our territorial waters, in distant waters, in the sense of delivery to customers, continues."

As a reminder, the USA recently announced new economic sanctions against the Islamic Republic. In an unusual and sharp statement, Donald Trump clarified that the United States would not settle for direct sanctions on Tehran alone, but would act against any international entity that attempts to help it stay "above water."

Despite this, when the US Treasury Secretary was asked this week why the US is not yet punishing those who continue to trade with Iran, he replied that the immediate implementation of secondary sanctions could have severe consequences for the global economy, and therefore the administration is holding off on them for now.