Oil Minister Javad Owji said the world needs to be fed with more Iranian crude, while Tehran is also ready to supply it as prices have been soaring in recent months.

Speaking after an OPEC+ meeting on Monday, Owji said the global energy market needs an increase in the supply of oil from Iran.

“As a major producer of oil and petroleum products, we are always ready to play our role in providing oil and gas away from politics, and help improve energy security in the world,” he added.

The official stated that the global energy crisis is intensifying, especially in the European region.

“An example is the increase in the price of natural gas in some European gas hubs to about 70 dollars per million BTU which is equivalent to the oil price of more than 400 dollars per barrel,” Owji continued.

“Although the Europeans are trying to compensate for the lack of energy and reduce the severity of the crisis with some decisions in the field of energy policies, the stable and reliable supply of energy sources, specifically oil and gas, especially as the fall and winter seasons approach, is a necessity for European consumers,” the minister stated.

“The role and importance of Iran’s supply of energy resources, including oil, gas and petroleum products, is of double importance in ensuring the stability and security of the world’s energy,” he underlined.

“As a major producer of oil and oil products in the world, we have always declared that we are ready to contribute to our role in the supply of oil and oil prodcuts and to improve energy security in the world by avoiding politicization of oil and the political use of energy. The global energy market needs to increase the supply of oil and natural gas from Iran,” Owji underscored.

Iranian experts say one of the reasons for the growing willingness of Europeans to reach an agreement with Tehran is their need for the coutry’s oil and gas amid the Russia-Ukraine war and the rising prices in the global market. They believe the Europeans and Americans are facing an economic crisis and are in critical need of a deal with Iran.

On Monday, Foreign Ministry Spokesman Nasser Kana’ani said his country is one of the most important countries supplying energy and fuel needed by different countries in the world due to its rich oil and gas resources. 

“Based on its capabilities and capacities, Iran has maintained its presence in the energy market even under the shadow of the toughest sanctions,” he told reporters.

“European countries are facing problems in providing the energy they need, and if the negotiations are successful and the unilateral sanctions against our country are lifted, Iran can meet a larger part of Europe’s needs,” the spokesperson added.

Europe is in the grip of an energy crisis, and the situation will only get worse as the West attempts to ban Russian energy imports, according to analysts. 

Russia, the main gas supplier to Europe, has threatened to cut energy supplies to the continent, after West imposed crippling sanctions against Moscow over its military campaign against Ukraine.

On Monday, Kremlin Spokesman Dmitry Peskov announced that technical issues with gas deliveries to Europe via the Nord Stream 1 gas pipeline will persist until the West lifts sanctions it has slapped on Russia over the ongoing Ukraine conflict.

On August 31, Gazprom completely shut down gas deliveries via the pipeline. Although initially Nord Stream 1 was slated to resume gas transit on Friday, Gazprom announced that it would remain closed indefinitely due to technical issues.

President Vladimir Putin commented on the European energy crisis in remarks to reporters at the conclusion of his working visit to Iran in July, indicating that the EU and its allies in Kiev are wholly responsible for current situation regarding gas deliveries from Russia. The Russian leader has previously accused European leaders of committing economic “suicide” via “insane and thoughtless” sanctions on Russia over its military operation in Ukraine.