The American “maximum pressure” policy will not prevent Iran from boosting its fuel production capacities, a senior government official maintained, as he inaugurated a massive oil extraction project in the country’s southwest.

“We will go ahead despite all these sanctions,” Iranian oil minister Bijan Zangeneh said on Saturday, speaking ahead of the signing of a $294 million deal between the National Iranian Oil Company and Iran’s Persia Oil & Gas. The massive contract focuses on extracting 39.5 million barrels of crude from the Yaran oilfield in Khuzestan province. (RT)