Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Syrian Defense: We call on all parties in Sweida to cooperate with security forces and exercise restraint
Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation
Al Mayadeen's correspondent: It has not yet been determined whether the detainees belong to ISIS or another organization
Al Mayadeen's correspondent: Around 10 people of different nationalities, including Lebanese nationals, were detained
Al Mayadeen's correspondent: The Lebanese army arrested a number of people in the Matn area of Mount Lebanon with possession it has not disclosed
Gaza Civil Defense spokesman: We have strong indications that there are martyrs, injuries, and trapped people in the Salah al-Din area
Gaza Civil Defense spokesman: Citizens should avoid Salah al-Din Street because anyone who approaches it is at risk of being directly targeted
Gaza Civil Defense spokesman: Reality is that there is a very limited retreat of the vehicles, with the occupation forces providing cover undeer fire up to Salah al-Din Street
Gaza Civil Defense spokesman: Claims that the Israeli occupation has withdrawn from areas in the neighborhoods of al-Zaytoun, al-Tuffah, and al-Shujaiya are false
Hamas: The two delegations stressed that any negotiations must lead to the achievement of our people's goals and aspirations, foremost among which is ending the war and the complete withdrawal of enemy forces

West suffered from sanctions against Iran, Russia: Iranian diplomat

  • By Al Mayadeen English
  • Source: Agencies
  • 6 Oct 2022 12:16
  • 1 Shares
5 Min Read

The Iranian Deputy Energy Minister says the world needs gas and oil and that sanctions against Iran and Russia are not helpful for the West.

  • x
  • Iranian deputy Energy Minister, Ahmad Asadzadeh
    Iranian Deputy Energy Minister, Ahmad Asadzadeh

Iranian Deputy Energy Minister, Ahmad Asadzadeh, told Sputnik on Thursday that the West, having imposed sanctions against Tehran and Moscow, suffered from these sanctions itself and faced an energy crisis.

"Now the world needs gas and oil. It would be good to treat this topic carefully, to take a transparent position. Sanctions against Iran and Russia are not good for the West, it will suffer from them. Today there is a gas crisis in Europe, there are problems. The same is true for oil," Asadzadeh explained.

On Wednesday, the Iranian diplomat also considered that the West will not be able to hold Russia and Iran accountable for the issues related to the West's need for energy resources.

  • The cost of the energy crisis in Europe
    The cost of the energy crisis in Europe

"I want to say that the countries of Europe and the US will not be able to shift the responsibility to satisfy their needs in the oil sector and the energy crisis on us," Asadzadeh told Sputnik.

OPEC+ countries agreed in a Wednesday meeting on steep oil cuts and reduced production by two million barrels per day.

Following the meeting, Russian Deputy Prime Minister Alexander Novak commented on the possible price cap of the EU and told reporters that Russia will continue supplying oil only to consumers who will ensure market-based pricing mechanisms.  

"Such precedents will greatly harm the energy market, it will only lead to shortages, to higher prices," Novak warned, pointing out that "we believe that it is not advisable for us to provide supplies with the introduction of such an instrument to those consumers who will use price caps."

"We will continue to supply only to those who provide market-based mechanisms of pricing," he added.

Saudi Energy Minister Prince Abdul Aziz Bin Salman said that OPEC+ is prepared to adapt to the situation even if it worsens.

Related News

Israeli actions in Gaza fuel Middle East escalation, Russia says

Russian MoD reports dozens of Ukrainian drones downed overnight

"It goes both ways, it does not go one way... We shall act and react to what is happening to the world global economy in the most responsible way," the Minister said during a press conference.

It is noteworthy that Iran has been under Western sanctions for years, primarily due to its nuclear program, with the sides negotiating a return to the Joint Comprehensive Plan of Action (JCPOA) in Vienna with no tangible results.

In the same context, energy prices have been surging globally since 2021. After the beginning of the war in Ukraine and the adoption of several packages of sanctions against Moscow by the West, fuel prices have accelerated the growth, pushing many Western governments to resort to contingency measures.

Read more: New EU sanctions against Russia to go into effect tomorrow - reports

OPEC+ decision to cut production 'shortsighted': Biden

On his part, US President Joe Biden expressed disappointment in the OPEC+ alliance's "shortsighted decision" to cut oil production against the background of supply issues, according to Jake Sullivan, National Security Advisor, and Brian Deese, National Economic Council Director. 

"The President is disappointed by the shortsighted decision by OPEC+ to cut production quotas while the global economy is dealing with the continued negative impact of Putin’s invasion of Ukraine," the two officials indicated in a joint statement.

Sullivan and Deese considered that "at a time when maintaining a global supply of energy is of paramount importance, this decision will have the most negative impact on lower- and middle-income countries that are already reeling from elevated energy prices."

"In light of today’s action, the Biden Administration will also consult with Congress on additional tools and authorities to reduce OPEC's control over energy prices," the joint statement read.

This comes as the US is concerned that OPEC's probable decision to reduce oil production will pose serious problems for the country and may even be interpreted as a hostile act, according to a US Treasury report.

The Biden administration assembled its top energy, economic, and foreign policy officials and entrusted them with lobbying Middle East allies such as Saudi Arabia, the United Arab Emirates, and Kuwait to vote against decreasing oil production.

To persuade its OPEC allies, the US proposed to purchase back up to 200 million barrels of oil from its OPEC partners.

Biden had previously tried to convince the organization to increase its oil output in a bid to cool the red-hot energy prices, traveling to Saudi Arabia with hopes of persuading Saudi Arabia to promise to increase its oil output and relieve the pressure on the global supply chain.

However, the price of oil rose even further after he left West Asia without striking a deal with Saudi Arabia on Riyadh pumping out more oil.

  • Moscow
  • Europe
  • Russia
  • West
  • Tehran
  • Ahmad Asadzadeh
  • Iran

Most Read

Hezbollah SG reveals war details on Al Mayadeen for the first time

Hezbollah SG reveals war details on Al Mayadeen for the first time

  • Politics
  • 8 Jul 2025
Major ambush in Gaza kills 6 Israeli troops, injures dozens

Major ambush in Gaza kills 5 Israeli troops, injures 14

  • Politics
  • 8 Jul 2025
Israeli soldiers are seen in Beit Hanoun ahead of an operation by the al-Qassam Brigades, undated (Al-Qassam Brigades Military Media)

'Israel' on blast as media exposes report discrepancies in Gaza ambush

  • Palestine
  • 8 Jul 2025
Yemen Navy sinks ETERNITY C ship, shares footage of operation

Yemen Navy sinks ETERNITY C ship, shares footage of operation

  • Politics
  • 9 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
The Freedom Flotilla ship Handala as it departs for Gaza, where it aims to break the maritime blockade at a port in Syracuse, Sicily in southern Italy on July 13, 2025. (AFP)
Palestine

Freedom Flotilla's Handala departs Sicily in bid to break Gaza siege

The container ship CMA CGM Laperouse, left, docks at the Georgia Ports Authority's Port of Savannah, Sept. 29, 2021, in Savannah, Ga (AP)
Politics

US shipbuilding woes deepen as tariffs, outdated policies backfire

Gaza war raises ethical questions for ex-Obama, Biden officials
Politics

Mercenary firm tied to Gaza war crimes hires Obama-Biden PR operatives

'Israel' targets children in Gaza collecting water
Palestine

'Israel' strikes Gaza kids fetching water, blames it on 'malfunction'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS