Iranian Foreign Minister Mohammad Zarif dismissed U.S. threats to reimpose all U.N. sanctions if the U.N. Security Council does not extend an arms embargo on the country.
“Making foolish claims by U.S. officials is nothing new,” Zarif was quoted as saying by Iran’s Tasnim News Agency on Thursday.
This came in response to U.S. special envoy for Iran Brian Hook confirming on Wednesday in The Wall Street Journal that Washington had planned to make sure that the arms embargo continues “one way or another.”
The current U.N. arms embargo is set to expire in October.
Separately, Iran’s oil exports dropped to a record low, averaging just 70,000 barrels per day in April compared to 287,000 in March, according to data by Kpler. Because of the difficulty in estimating the volumes, Kpler told Reuters that the total amount could be revised upward by as much as 200,000 barrels per day.
Government lockdowns to contain the coronavirus, combined with low prices and U.S. sanctions, led to the drop in production.
The growing fiscal difficulties in Iran come after the Iranian rial—and soon to be toman—hit its lowest rate against the dollar since 2018 on the unofficial market on Tuesday as U.S. sanctions have badly damaged the economy.
