Dvorkovich: the lifting of the sanctions against Iran have influenced oil prices

Dvorkovich: the lifting of the sanctions against Iran have influenced oil prices


The ability to change the declining trends in oil prices depends on many factors, said the Vice-Premier of Russia Arkady Dvorkovich. To them, he said, is the lifting of the sanctions on Iran.

Hong KONG, 18 Jan. The lifting of the sanctions against Iran have influenced oil prices, said Deputy Prime Minister Arkady Dvorkovich.

“It already has,” said Dvorkovich to journalists on the sidelines of the Asia Society forum in Hong Kong, answering the question of how the removal of the sanctions on Iran can affect the oil price in the future.

He added that the possibility of a change in trend to the fall in oil prices depends on many factors.

Iran 16 January got rid of the majority imposed on the country of sanctions — on this day, the IAEA presented a report confirming the readiness of the authorities to implement it through a long negotiation program by a significant reduction of its nuclear potential. Later the EU and the US confirmed the removal from Iran of economic and financial sanctions related to its nuclear program.

World oil prices fluctuate on Monday, during the day, they fell to their lowest level since 2003, reflecting the communication of the lifting of sanctions with Iran, investors are worried about the upcoming increase in the oversupply.

As at 16.41 GMT, the March futures price for North sea petroleum mix of mark Brent has grown on 0,1% — to 28,97 per barrel. In the course of trading Monday the price of Brent crude oil fell below 28 dollars per barrel for the first time since December 2003, up 27.71 per barrel. The price of March futures for WTI crude oil fell by 0.31% to 30.3 per dollar per barrel.