Trump cannot reduce oil prices by bullying: Zanganeh

زنگنه

Tehran (ISNA) - U.S. President, Donald Trump cannot bring oil prices down by “bullying” other nations, Iran’s Oil Minister said on Tuesday, adding that the market was suffering from short supply.

U.S. sanctions on Iranian oil exports are due to kick in on Nov. 4. The U.S. administration has been pushing its allies to cut Iranian oil imports and encouraging Saudi Arabia, other OPEC states and Russia to pump more oil to meet any shortfall, Reuters reported.

“The oil market is suffering from short supply and this cannot be resolved by words. Trump thinks he can bring the oil prices down by bullying,” Iranian Oil Minister Bijan Zanganeh said.

Zanganeh added the rise of oil prices was a “self-inflicted pain” caused by U.S. sanctions against Iranian energy exports, and could be resolved by lifting the measures.

“Everyone is worried and Trump has failed to reassure them. That’s why the market is in turmoil,” he said.

Zanganeh also said the United States “has done most of the things it could do, and there is not much left to do against Iran”.

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