Tehran, IRNA – An Iranian lawmaker believes that refining crude oil in offshore refineries can help the Islamic Republic neutralize sanctions and generate a significant amount of value-added income.
Sadif Badri told IRNA on Wednesday that Iran can expand its international relations via investing in stakes of offshore refineries, noting that the more the Islamic Republic invests in economic, trade and political interactions with safe and amicable countries, the more it can develop level of international cooperation and generate value added income.
The investment in refineries of other countries can provide Iran with the opportunity to have access to the benefits and situation of the facilities; so, the Iranian crude oil can be refined in the offshore refineries, where Iran has a stake, he noted.
This kind of investment can pave the way for nullifying anti-Iran sanctions instead of dodging them, Badri opined.
Referring to the fact that getting around sanctions is the root cause of corruption, the legislator said that since the circumvention of embargo seems not to be a successful strategy in the long term, one of the main important ways to neutralize the negative impacts of sanctions on Iran’s economy is development of refinery and petrochemical industry.
Iranian oil exporters invested in other countries’ refining and petrochemical industries in previous years in order to minimize the repercussions of sanctions, he said.
One of the essential ways in nullifying oil-related sanctions is the change of attitude via getting rid of selling raw materials to trading processed products in order to generate value-added income with the aim of reducing dependence on crude oil revenues, the MP argued.
Setting up refineries and processing crude into various oil products are among the methods, which can help Iran neutralize sanctions; thus, resorting to offshore refineries can play key role in this respect, because construction of new refineries inside Iran can be time-consuming and costly, he concluded.
Source: Islamic Republic News Agency – IRNA
