Why is Iran talking oil exports after years of sanctions?

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Why is Iran talking oil exports after years of sanctions?
Iran now needs $160 billion of investments in its oil and natural gas industries in the coming years in order to avoid becoming a net importer, the oil minister has said.
By SETH J. FRANTZMAN
NOVEMBER 2, 2021

Back in April 2019 the US, then under the Trump administration, said there would be no more exemptions or waivers for Iranian oil sanctions. Then US Secretary of State Mike Pompeo cancelled the waivers, reports said at the time. The goal was to pressure Iran and drive oil exports to near zero. In August 2020 reports said the US seized Iranian petroleum on ships heading for Venezuela. Several Iranian ships also made it to Venezuela in May and June 2020. UK Royal Marines also briefly detained an Iranian tanker near Gibralter in August 2019.

Fast forward to November 2021. Iran is talking up oil exports again. This comes as Iran has claimed it suffered the threat of a “pirate” attack at sea and after a Wall Street Journal report said earlier this year that Iranian ships had been targeted by Israel on their way to Syria. Iran now needs $160 billion of investments in its oil and natural gas industries in the coming years, to avoid becoming a net importer, the oil minister has said, according to a report in Iran International. “Javad Owji told a budget planning meeting on Sunday that because of lack of investments in the past, the country is now faced with a stark choice – invest $160 in its oil and gas sector or face declining output and eventually imports of fossil fuels.”

more............ https://www.jpost.com/international/why-is-iran-talking-oil-exports-after-years-of-sanctions-683856
 
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