Iranian Oil Exports to Continue Unabated Despite US Election Outcomes

Iranian Oil Minister Javad Owji asserted that Iran's oil exports will persist regardless of the upcoming U.S. presidential election results. Despite past sanctions, Iran increased oil output since President Biden took office. Trade with China has expanded, ensuring continued exports amid political shifts in both countries.

Iranian oil exports will continue regardless of who is elected as the next U.S. president, Iranian Oil Minister Javad Owji said on Wednesday, amid concerns that a Donald Trump presidency could curb Iranian crude sales. "Whatever government comes to power in the United States will not be able to prevent Iranian oil exports," Owji said in comments quoted by Iran's official news agency IRNA.

In 2018, then-President Trump withdrew from a 2015 nuclear pact with Iran and re-imposed sanctions which hurt Iran's oil sector, with production dropping to 2.1 million barrels per day (bpd). U.S. President Joe Biden took office in 2021 and since then Iran has managed to raise output to 3.5 million bpd while tripling exports, according to Owji.

Iran has expanded oil trade with China. Iran will elect a new president on June 28 following the death of President Ebrahim Raisi in a helicopter crash in May.

The U.S. presidential election is scheduled for November 5.

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