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Tehran says Saudi Arabia unable to replace lost Iranian oil

Dubai - Iran’s Oil Minister Bijan Zanganeh has dismissed as “nonsense” claims by the Saudi crown prince that Saudi Arabia can replace sanctions-hit Iranian oil in the market.

Dubai - Iran’s Oil Minister Bijan Zanganeh has dismissed as “nonsense” claims by the Saudi crown prince that Saudi Arabia can replace sanctions-hit Iranian oil in the market. “(Mohammed) bin Salman’s remarks can only satisfy (U.S. President Donald) Trump. No one else will believe him. Iran’s oil cannot be replaced by Saudi Arabia,” Zanganeh was quoted as saying on his ministry’s website. Prince Mohammed told Bloomberg on Friday the kingdom had met its promise to Washington to make up for Iranian oil supplies lost through U.S. sanctions, reimposed when the United States exited a nuclear deal between Tehran and six major powers. Additional U.S. sanctions, on Iran’s oil and banking industries, will be imposed in November. Zanganeh said such remarks had no “real impact on the market” but were part of a psychological war against Iran. “Any country that makes such claims ... just wants to display its support to the U.S. sanctions against Iran,” Zanganeh was quoted as saying.

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