Wednesday, 1 December 2021

OPEC chief visits Iran as US sanctions waivers expire

REUTERS/Raheb Homavandi/File Photo

TEHRAN: OPEC Secretary-General Mohammed Barkindo visited Tehran for an oil and gas expo just hours before sanctions waivers the US granted to Iran’s biggest oil customers were set to expire.

The OPEC chief visit came as China, Turkey and Iraq said that they cannot abide by the unilateral US sanctions and would continue doing business with Iran and one Russian executive claimed that they have been encouraged to do business with Iranian companies.

However, the Iranian economy is already struggling and prices are soaring; the expiration of the sanctions waivers mean the situation has become even more precarious.

Al Jazeera’s Zein Basravi reports from Tehran.

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