President Total believes Iran’s oil will find new buyers

Christophe de Margerie, president of French Total Petroleum, said at the Davos meeting that the new European sanctions against Iran will not be effective. He stressed that Iranian oil will find new buyers.

Christophe de Margerie, who is attending the Davos conference in Switzerland, stressed that we have stopped buying oil from Iran, but Iranian oil will find new buyers and even find better buyers. I doubt whether the sanctions will have an impact on Iran’s oil sales and income. I believe that sanctions will not bring new special pressure on Iran. The President of Total Petroleum of France admitted that the results showed that the EU’s sanctions only had a slight impact on Iran.