US Revokes Waiver, Iran's Oil Exports Continue Uninterrupted

Iran's Oil Minister Mohsen Paknejad said that the country's oil exports will continue uninterrupted despite Washington's move to revoke a temporary sanctions waiver.

The United States had granted the waiver on June 22 as part of a 14-point peace deal, allowing Iranian crude and petroleum products to be sold for 60 days without exposing buyers to sanctions.

Paknejad criticized the decision, saying it violated Article 10 of the memorandum covering Iranian oil and petroleum exports.

He added that the Oil Ministry had spent years building mechanisms to offset 'cruel sanctions' and had maintained those structures even while the waiver was in force.