Iranian oil minister on Tuesday stressed the Islamic Republic was not facing problem in selling its oil, saying “goodbye” to sanction.

Iranian oil minister on Tuesday stressed the Islamic Republic was not facing problem in selling its oil, saying “goodbye” to sanction.

"Despite sanctions and threats, we have no problems in upstream oil industries, including production, and therefore we can say today: goodbye sanctions”, Rostam Qassemi told reporters.

"Fortunately the Iranian industrialists showed that they can do great things and therefore there is no need to the foreign countries”, the minister added.

He described the petrochemical industries as one of Iran's strong points and advantages, emphasizing: "Iran can be more successful than the past in the petrochemical industries due to its giant gas reserves".

TEHRAN CUTS OILS EXPORTS TO MADRID
Meanwhile on Tuesday, media outlets Al-Alam and Press TV quoted unidentified sources as saying that the Islamic Republic has cut oil exports to Spain.

"Oil exports to Spain have been cut," the Arab-language Al-Alam network said on its website.
If confirmed, the halt of crude to Spain would expand Iran's pre-emptive stoppage of crude sales to the European Union, which is implementing an oil embargo on Iran due to come fully into effect on July 1.

In February, Tehran announced it was stopping all oil exports to Britain and France.