sanctions against Iran.
Have there been any new agreements with
Russia?
There are always new agreements.Are the agreements in relation with oil
exports or anything?
On exports, as I mentioned, I won’t provide anymore information.
So, there are new agreements or they arein the process of being made, or they’ve beensigned?Now, the trend is good. We’ve moved forward.In the time that there’s been thisagreement, has share of any OPEC MCs gone tonon-OPEC countries?
Look, OPEC won’t give any share of anything toanyone. The Persian Gulf countries won’t leavea single barrel of their market share to anyone,
unless they cannot produce. Even what theycannot produce, that they won’t give that up either.Practically they don’t have it in hand, maybe they’ll
tell the other side, we [give it] to you, but theyhaven’t been able to use it themselves. If there’sfood that they can’t eat, maybe they’ll donate it
somewhere. But they won’t even let one barrel go.If you accept that Iran’s oil productionwill drop or its exports will drop, will we havenegotiations with OPEC MCs beforehand likewhat we did in 2013 and 2014 for the return of
Iran’s barrels to the market?No, I’ve already written to them that, firstly rather
than exports only production is part of the OPEC’scriteria. And in my previous communications Ihave mentioned, if anything happens to my exports
or production level, after the problem is resolved,regardless of any decision, without the need for anyapproval at all, I will resume my original production
trend. Without the need for obtaining any approval Iwill return to my prior production level. I’ve told thisto OPEC MCs and I’ve said it repeatedly.
How do today’s sanctions and situationdiffer from the situation in 2011?
Well, that one was UN Security Council sanctionsthen. This is just the bullying of the US, at that time itwas multilateral, international sanctions. Right now,
no country apart from Zionist Regime and two othercountries in the region — two of our Arab brothers— no one else is with the US.But they are cooperating ...
No, it is not Cooperation... if someone is bullyingand holding a sword, it is a different story ... butthese sanctions are not legal and it’s not like
everyone is afraid of the UN and contravening somelaws.
Right now, from one perspective it’s harder andfrom another perspective it’s simpler. It’s harderfrom this point of view that the US has all theexperience of the previous round, and it’s alreadyworked out some of our methods/workarounds
and therefore we have to use more complicated,new methods and the US is a lot more persistent,especially given the US have made up its mind tocut out production to a great extent in Novembereven if in a symbolic way. In my opinion this is verysymbolic for them.And we are doing our best, making all efforts, but
I don’t want to say how much and to what extentwe’ve been successful, because he (the US/Trump)will find out. That [previous] round was UN-related;
UN sanctions are very heavy in terms of the law,meaning that anyone who violated the sanctions wassubject to all the international laws and regulations.
Now this is just America that is throwing its weightaround, it’s holding up a sword and calling forchallenge over everyone. And now, we’ll do our best
and God Willing, God will help us if we are honest.Rick Perry, Al-Falih and Novak met recently,do you think this was just promotional/propaganda or how much was it about affectingproduction?No, I think this is all mostly propaganda. TheAmericans routinely go to different places, following,threatening, they go here and there and doingwhatever is that they do and we know about whatthey do. Any company that contacts us, they contactthem half an hour later, they talk to them, and theyroutinely monitor and eavesdrop and follow andkeep an eye on our managers. They are clearlyfollowing everything.What’s your analysis of the current marketconditions and in the months ahead, consideringwinter is ahead, what does the market need?Some more barrels?You need to understand from price change trends.Do you think that if production reallydrops heavily, how much will the priceof oil go up; let’s say in the worst casescenario?

The higher the better.What needs to happen for thesesanctions ... what has to happen, does Mr.Trump have to go? What will and needs tohappen in your opinion, whatcan Iran do? Iran has to dosomething.Right now, I don’t want to enter thesediscussions.Well something has to be done; Irancan’t just keep going till it hits a dead end?Now Trump could do so and it would be good
for him to suspend the sanctions.In Vienna I remember you saying in
terms of Russia’s oil supply, we’re neitherpermanent friends nor enemies [in terms ofoil issues] — is that still your view?
It’s always my view. It’s not about being friends,brothers or enemies.
And Russia, what’s your view on the factthat it says on the one hand it’s against thesanctions but then on the other hand it willsecure oil supplies?
Ask them, you need to ask them.Can you update us on the Iraq-Iran swap
situation?It’s underway. It’s coming on trucks and it isbeing received.
Do you want to increase it?Yes, we would like to and we are after
increasing it.And in terms of selling oil to Russia, areyou seeking more than the current level [100thousand barrels]?
We are keen to provide more oil to everyone.Is Iran using discounts more now, as atool?No, it’s not really that important.So what is Iran’s position on the currentagreement, will you support it?We’ll see at the time.
Would the US be able to reduce Iran’s oilexports to zero or it’s just a bluff ?
I think that Mr. Trump has made suchdecision without consulting experts even
within the US administration to reduce Iran’soil exports to zero and he insists obstinatelyon implementing his decision. But he recentlyrealized that such decision is impossible andtherefore he is seeking to reduce Iran’s oil
exports to zero, albeit symbolically, for onemonth. Therefore, Mr. Trump is seriouslytrying his best to reduce Iran’s oil exportsto zero. Of course, this is just one side of thecoin as we have not our hands and feet tied.In addition to doing our best, we believe thatdivine hands are at work.sanctions against Iran.
Have there been any new agreements withRussia?
There are always new agreements.Are the agreements in relation with oil
exports or anything?
On exports, as I mentioned, I won’t provide anymore information.
So, there are new agreements or they arein the process of being made, or they’ve beensigned?
Now, the trend is good. We’ve moved forward.In the time that there’s been this
agreement, has share of any OPEC MCs gone tonon-OPEC countries?
Look, OPEC won’t give any share of anything toanyone. The Persian Gulf countries won’t leavea single barrel of their market share to anyone,
unless they cannot produce. Even what theycannot produce, that they won’t give that up either.Practically they don’t have it in hand, maybe they’ll
tell the other side, we [give it] to you, but theyhaven’t been able to use it themselves. If there’sfood that they can’t eat, maybe they’ll donate it
somewhere. But they won’t even let one barrel go.If you accept that Iran’s oil productionwill drop or its exports will drop, will we havenegotiations with OPEC MCs beforehand likewhat we did in 2013 and 2014 for the return of
Iran’s barrels to the market?
No, I’ve already written to them that, firstly ratherthan exports only production is part of the OPEC’scriteria. And in my previous communications I
have mentioned, if anything happens to my exportsor production level, after the problem is resolved,regardless of any decision, without the need for any
approval at all, I will resume my original productiontrend. Without the need for obtaining any approval Iwill return to my prior production level. I’ve told thisto OPEC MCs and I’ve said it repeatedly.How do today’s sanctions and situationdiffer from the situation in 2011?
Well, that one was UN Security Council sanctionsthen. This is just the bullying of the US, at that time itwas multilateral, international sanctions. Right now,
no country apart from Zionist Regime and two othercountries in the region — two of our Arab brothers— no one else is with the US.But they are cooperating ...No, it is not Cooperation... if someone is bullyingand holding a sword, it is a different story ... butthese sanctions are not legal and it’s not like
everyone is afraid of the UN and contravening somelaws.Right now, from one perspective it’s harder andfrom another perspective it’s simpler. It’s harder
from this point of view that the US has all theexperience of the previous round, and it’s alreadyworked out some of our methods/workaroundsand therefore we have to use more complicated,new methods and the US is a lot more persistent,especially given the US have made up its mind tocut out production to a great extent in Novembereven if in a symbolic way. In my opinion this is verysymbolic for them.And we are doing our best, making all efforts, but
I don’t want to say how much and to what extentwe’ve been successful, because he (the US/Trump)will find out. That [previous] round was UN-related;UN sanctions are very heavy in terms of the law,meaning that anyone who violated the sanctions wassubject to all the international laws and regulations.Now this is just America that is throwing its weightaround, it’s holding up a sword and calling forchallenge over everyone. And now, we’ll do our bestand God Willing, God will help us if we are honest.Rick Perry, Al-Falih and Novak met recently,do you think this was just promotional/
propaganda or how much was it about affectingproduction?
No, I think this is all mostly propaganda. TheAmericans routinely go to different places, following,threatening, they go here and there and doing
whatever is that they do and we know about whatthey do. Any company that contacts us, they contactthem half an hour later, they talk to them, and they
routinely monitor and eavesdrop and follow andkeep an eye on our managers. They are clearlyfollowing everything.What’s your analysis of the current marketconditions and in the months ahead, consideringwinter is ahead, what does the market need?
Some more barrels?
You need to understand from price change trends.The Americans are trying really hard to preventprices from going up until November. But if you take
a look, the trend for prices right now is upwards andthey bring prices down with an intervention. But ifthey leave it alone, the price trend is to rise and to
keep rising.What’s a suitable price for oil right now?
Right now, a suitable price is $80. Now, the highert gets the better it is for us. But it won’t. The US andsome OPEC members are not allowing it through
their meddling.Some sources have said that Saudis want
high prices, i.e. above $80.No, not right now. The US doesn’t want WTI to go
up, if it goes up Trump won’t get the votes... They’reputting all their efforts into WTI not going up. Hebrought it under $60 and now it’s going up. As soon
as it goes up, they throw in some from inventories,from here and there and they won’t ever tell thetruth about what they’re doing. But the DOE report
on production said that the market cannot sustainIran’s absence from the market. It cannot tolerateIran’s removal from the market.