The West cannot keep Iran away from global Crude Oil markets

Iranian Oil Minister Rostam Qasemi said Monday that the West can not keep Iran away from the global Crude Oil markets, Press TV reported.

Iran's Oil industry is its main force against foreign sanctions and has defeated the enemies' efforts to isolate Iran in the world, said Mr. Qasemi.

"The West is trying to disrupt Iran's oil sales and exports by exerting different pressures (on the country) and keep Iran away from global markets. But Iran's Oil staff have thwarted these attempts," Mr. Qasemi was quoted as saying.

The minister said the world has waged an "economic war" against Iran and its oil sector. "Although this war is complicated and the enemy is undertaking huge efforts to succeed, all of the country's officials are doing their utmost to maintain Iran's presence in the global markets in a bid to foil the enemies' objectives," he was quoted by Press TV as saying.

Formulating development plans, signing contracts, and funding projects related to oil and gas fields shared with neighbors are the Iranian oil industry's main solutions to counteract this economic war, Mr. Qasemi added.

"Due to these policies, Iran's Oil industry is currently at its best," he said.

Washington and its European allies have slapped rounds of sanctions over the years on Tehran over its controversial nuclear program, on top of those by the UN Security Council, to rev up the pressure.

Amid efforts to curb Iran's disputed nuclear program, the European Union (EU) imposed an Oil embargo on Tehran on 1 July.

The United States and about 25 of its allies started the largest-scale mine-sweeping exercise on 16 September in the Persian Gulf, in a show of unity and defensive step to prevent Iran from attempting to block Crude Oil exports through the Strait of Hormuz.

Paul A. Ebeling, Jnr.

Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.

Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.