Alwaght-Turkey has vowed to ignore US call on its allies to stop importing Iranian crude oil by November 4, when the latest Washington's sanctions on Tehran are expected to commence.
“The decisions taken by the United States on this issue are not binding for us. Of course, we will follow the United Nations on its decision. Other than this, we will only follow our own national interests,” Turkey’s Economy Minister Nihat Zeybekci said as quoted by daily Hurriyet, adding that “we will pay attention so our friend Iran will not face any unfair actions.”
The State Department earlier this week called on all US allies to completely stop buying Iranian crude, and although many are trying to find a way around the sanctions, it is for now proving tricky, and many buyers are winding down their purchases of Iranian crude.
Iran has been Turkey's leading supplier of crude oil for most of the past two decades, ceding first place to Iraq only for three years during the recent period of US sanctions.
Imports last year came to 11.493 million million tonnes, or 44.6% of the total supply, at an average of 230,800 barrels per day (bpd), up 66% from the 6.939 million tonnes supplied in 2016, according to reports.
At the same time, oil importers including Japan, South Korea, and India, as well as European countries have said they will continue buying Iranian crude.
The European Union is particularly concerned about the situation because there is only so much that the three European signatories to the Iran nuclear deal could do to prevent Tehran from exiting it, which might happen if it stops seeing benefits from it, President Hassan Rouhani said.
US President Donald Trump announced on May 8 that Washington was walking away from Iran’s nuclear agreement, known as the Joint Comprehensive Plan of Action (JCPOA), which was reached between Iran and the five permanent members of the UN Security Council - the United States, Britain, France, Russia and China - plus Germany.
Trump also said he would reinstate US nuclear sanctions on Iran and impose "the highest level" of economic bans on the Islamic Republic.
Since the US withdrawal from the nuclear deal, European countries have been scrambling to ensure that Iran gets enough economic benefits to persuade it to stay in the deal. The remaining parties have vowed to stay in the accord.
Iranian Deputy Foreign Minister Abbas Araqchi said last week that the UK, Germany and France as well as the EU have promised to offer a package of practical steps by the end of June that would fulfill Iran’s demands, including on oil sales, payments for its oil and transportation.
