EnergyWatch

Iran asks EU for assurances for oil sale and banking channels

The US-Iran conflict has caused the Iranian president to turn toward the remaining signatories of 2015's nuclear deal for assistance in upholding the accord, writes Reuters.

Photo: Ebrahim Noroozi/AP/Polfoto

Iranian President Hassan Rouhani has phoned French President Emanuel Macron, asking for guarantees for oil sales and open banking channels. This follows in the wake of the US decision to reintroduce sanctions against the country from November.

"Iran has acted upon all its promises in the nuclear agreement and, with attention to the one-sided withdrawal of America ... expects the remaining partners to operate their programs more quickly and transparently," Rouhani said to the Iranian media bureau IRNA, according to Reuters.

Macron reiterated French support and simultaneously repeated his interest in a broader discussion between relevant parties.

US-Iranian relations have degenerated over the summer, for instance, with Rouhani threatening to close the Strait of Hormuz, potentially escalating the conflict to an entirely new level.

The Strait of Hormuz connects the Persian Gulf with the Gulf of Oman and further into the Arabian Sea. It is one of the world's most important trade routes, particularly for oil and gas transit.

That intimidation prompted US President Donald Trump to open up Twitter, where he threatened the Islamic Republic with unprecedented consequences if it ever again threatened the US or enacted the blockade.

Securing international sea routes

Monday, Iranian Revolutionary Guard General Alireza Tangsiri underscored that Iran "can ensure the security of the Persian Gulf and there is no need for the presence of aliens like the US and the countries whose home is not in here," Reuters reports in reference to media bureau Tasnim. Tangsiri's statement is not-so-subtle allusion to the aforementioned blockade threat to the Strait of Hormuz.

The US Navy has a fleet presence in the area for the purpose of securing shipping routes for oil and gas transports.

US Secretary of State Mike Pompeo replied to Tangsiri on Monday, also on Twitter:

"The Islamic Republic of Iran does not control the Strait of Hormuz. The Strait is an international waterway. The United States will continue to work with our partners to ensure freedom of navigation and free flow of commerce in international waterways," Reuters reports.

English Edit: Daniel Frank Christensen

Iran will push back if the US blocks oil exports 

China uses Iranian tankers to avoid US sanctions 

Total is completely out of Iran 

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