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Iran will not comply with 'illegal' U.S. sanctions: oil minister

Reuters  |  BAGHDAD 

(Reuters) - Iranian Bijan said on Thursday U.S. sanctions against his country were "fully illegal" and would not comply with them.

"We believe that we should not comply with the illegal sanctions against Iran," told a joint conference in with his Iraqi counterpart,

also said would not discuss the volume or destination of its while it remained under U.S. sanctions.

"We have discussed today how to improve cooperation with on different aspects, especially on oil issues," Zanganeh said.

Ghadhban, who also said the discussions had touched on energy issues, added that had not yet reached an agreement with to develop joint oilfields.

He said a decline in global had stopped and that he expected them to rise gradually.

The Organization of the Petroleum Exporting Countries, of which and are members, and its Russia-led allies agreed on Dec. 7 to cut output by more than expected, despite pressure from U.S. to reduce

The OPEC deal had hung in the balance on concerns that Iran, whose crude exports have been depleted by U.S. sanctions, would receive no exemption and block the agreement.

Ghadhban said any decision relating to future OPEC cuts would depend on monitoring price developments.

(Reporting by Ahmed Rasheed; Writing by Raya Jalabi; Editing by and Gareth Jones)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Thu, January 10 2019. 17:54 IST