The following is the full text of the “Iran Petroleum” interview with Mr. Delfi.

How do you assess Iran’s current oil sales as Tehran and Washington are trying to hammer out a deal to get out of the current impasse? Can ongoing talks help improve Iran’s oil, gas, and petrochemical products sales?

We are negotiating with the Americans, and our problems are supposed to be resolved through negotiations. But knowing that we have not yet reached a specific conclusion on the deal, naturally, the status of the country’s energy market in the international arena has not changed. That is, we are under sanctions. Some countries have received a US waiver to buy Iranian oil by benefiting from the OFAC system. Of course, we have also found a solution to this issue, and by taking advantage of some solutions, we have been able to offer our oil in global markets. Of course, it is worth noting that with the negotiations, international conditions will soften somewhat, and this softening of the atmosphere will leave its impact on the markets and economic trends. As we have also felt it within the country. With the start of negotiations, the rate of currencies,  prices of gold coin, and other determinants of economic markets that are closely related to sanctions have decreased significantly. I would like to say that the negotiations between Tehran and Washington have not yet officially affected our energy market, but the hard currency and gold markets have shown signs of being affected earlier and have experienced a decline. Of course, we should not forget that Iran’s goal in sitting at the negotiating table is the removal of sanctions imposed on the country’s economy, especially in the sectors of oil, gas, and petrochemicals. Just as the Americans are seeking assurance that Iran does not have access to nuclear weapons, we have also said that we are seeking to lift economic sanctions on Iran. Such a path that will lead to a transformation in our country’s energy market and leave its effects on various dimensions of the energy and economic markets. In 2015, following the signature of the JCPOA, and between 2016 and 2018, when Trump withdrew from the JCPOA, we were able to have normal conditions for selling our country’s oil and, of course, despite some problems, we were able to partly receive our money. I was reading an analysis not long ago that when the JCPOA was signed in 2015, international sanctions against Iran were eased, and our country could resume its oil exports under normal conditions. Iran was able to increase its crude oil exports faster than experts had predicted. I think, with the success of the negotiations between Tehran and Washington, in these circumstances, where there is serious determination on both sides, this could happen again.

So, do you think that an agreement will improve Iran’s status in the energy market?

Yes, in case of an agreement, the conditions for Iran’s energy market will change, and many buyers will enter the Iranian energy market; with diversification in the buyers of Iranian oil, our country’s economy will also improve.

Given ongoing political tensions between Russia and Europe, once sanctions on Iranian oil and gas are lifted, could the Far East be a suitable destination for Iran’s energy market?

Not long ago, European countries such as France, Germany, Britain, the Netherlands, and, of course, Italy were the main buyers of Iranian oil, but with the intensification of sanctions at different times, European countries stopped buying oil from Iran. In 2015, after the signing of the JCPOA, the president of the European Commission visited Iran and held negotiations with the Ministry of Petroleum, and we were supposed to, once again, become one of the suppliers of European oil to diversify the energy basket of European countries. That was how France’s Total (now TotalEnergies), Eni, and Shell moved to invest in Iran. A case in point was the agreement between National Iranian Oil Co. (NIOC) and Total-led consortium with China and Iran for developing Phase 11 of the South Pars gas field in 2017. However, Total pulled out of Iran due to the US withdrawal from the JCPOA. I would like to mention that Europe has focused on the energy sector, including oil, gas, and petrochemicals. It took some measures in 2016, but due to the first round of sanctions imposed on Iran by the Trump Administration, investment by these companies in Iran came to a halt.

Europe’s energy market has seen significant changes following Russia’s invasion of Ukraine. Can Iran grow into a key energy player of this continent?

As for Russia, I must say that with Russia’s attack on Ukraine, the Europeans imposed a ban on gas imports from Russia, and over time, Russia’s share of the European gas market decreased, and the country was forced to sell its gas to other countries, such as China. The Europeans also turned to the Persian Gulf countries to compensate for the loss of Russian gas. In the meantime, Qatar and Saudi Arabia made great efforts to replace Russia in the European oil and gas market. As Iran, we have not succeeded in re-entering the European energy market due to sanctions. In case Iran reaches a principled solution with the Europeans by resolving its differences with them, we may hope that by entering the vast European market, we can sell our oil and gas in this market and consequently bring the world’s latest technologies into our country. European countries know that Iran, as the world’s second and third largest holder of oil and gas reserves, can be a reliable supplier of Europe’s energy needs.

Under the 14th administration, the Ministry of Petroleum has extensive plans to attract foreign investment. Regardless of the future of sanctions, do you think that Iran is still attractive to investors?

We need to undertake efforts to attract foreign investment, particularly from Europeans and more specifically French and Italian companies like TotalEnergies and Eni, in order to create conditions for the expansion of the country’s energy infrastructure.

Ameneh Mousavi