Iran’s oil minister acknowledges challenges amid U.S. blockade, but claims production not decreasing

Iran’s oil minister acknowledged Monday that the industry has “faced challenges” due to the U.S. blockade of Iranian ports and vessels, but he claimed countermeasures taken by the government meant “production did not decrease.”

“Our production didn’t decrease and the ‌export process was favorable,” insisted Mohsen Paknejad in an interview with Iranian state TV, while admitting there have been some hurdles.

“Naturally, in the days following the [U.S.] blockade, we have faced ‌challenges, but ‌measures were taken ⁠and this ‌process continues,” he said, offering no specifics.

Paknejad dismissed reports of damage to the country’s oil wells as “unrealistic fantasies.”

Oil prices surged again Monday after President Trump rejected Iran’s response to the latest U.S. peace proposal as “totally unacceptable.”