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'We only want to sell our oil,' Iran official says before nuclear talks

Reuters logo Reuters 27/06/2019

VIENNA (Reuters) - Iran's main demand in talks on its nuclear deal is to be able to sell its oil at the same levels that it did before Washington withdrew from the accord a year ago, an Iranian official said on Thursday.

a close up of smoke: A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Persian Gulf © Reuters/Raheb Homavandi A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Persian Gulf

Iran is threatening to go over the maximum amount of enriched uranium it is allowed under the deal in retaliation for crippling U.S. economic sanctions imposed in the past year. It is just days away from that limit, diplomats say, and going over it could unravel the accord.

Senior officials from Iran and the deal's remaining parties will meet in Vienna on Friday with the aim of saving the agreement. But with European powers limited in their ability to shield Iran's economy from U.S. sanctions it is unclear what they can do to provide the large economic windfall Tehran wants.

"What is our demand? Our demand is to be able to sell our oil and get the money back. And this is in fact the minimum of our benefit of the deal," the official told reporters on condition of anonymity.

"We are not asking Europeans to invest in Iran... We only want to sell our oil."

European powers and Iran have set up a mechanism for barter trade called Instex that would net out amounts at either end but it is not yet operational and diplomats have said it will only be able to handle small volumes for items like medicine, not the large oil sales Iran is seeking.

"Europeans should either buy oil from us or give its money (price) to us," the official said. "Instex is a netting company. If they don't buy oil from us there is nothing to be netted."

(Reporting by Francois Murphy, Editing by Andrew Heavens, William Maclean)

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