Oil, Gas Industry Suffered Most Pressure under US Sanctions

Iran’s First Vice President Es’hagh Jahangiri said the Iranian oil and gas industry suffered the most pressure under the US embargo period.

Jahangiri made the remarks addressing the meeting of the working group for removing barriers to production rise.

"The oil and gas industry suffered the most pressure during the sanctions period," he said underlining the significance of the oil and gas and petrochemical sectors for the country's development.

"The oil, gas, and petrochemical sectors are of great importance for the development of the country, so it can be said that the development of the country should be formed and revolve around this sector," the senior official added.

"Under the sanctions, the oil industry suffered the most pressures in the production and export sectors, but some of these pressures and shortcomings were compensated by relying on the policies of the resistance economy and the ability of the industry's experts and managers," he expressed content.

As reported, the Iranian finance minister, oil minister, the governor of the Central Bank of Iran, and the chairman of the Tehran Chamber of Commerce also attended the meeting.

The US-Iran tensions have been running high for months following the Trump's administration unilateral decision to pull out from the 2015 Iran nuclear deal inked under Barack Obama and began reimposing Washington's sanctions that had been lifted under the agreement.