By Azernews

By Gunay Hasanova

Iran, enjoying about 160 billion barrels of proven oil reserves, is seeking to reach pre-sanctions level of production and diversify the map of its oil supplies.

Currently, the Islamic Republic is in talks with Belarus over the oil supplies.

President of Belarus Alexander Lukashenko said his country is negotiating with Tehran on Iranian oil supply due to difficulties in talks with Russia on oil and gas, TASS reported.

“We are conducting negotiations with Iran, which is looking to supply its oil and which will reduce the price for us,” he said.

The Belarusian leader also said new suggestions have appeared in discussions with Russia, adding that Belarus is ready for a compromise.

Iran enjoys the fourth largest oil reserves in the world and the second largest exporter within OPEC. The Iranian government is heavily reliant on oil and gas revenues.

One of the country's primary aims after restrictions on oil sales were eased after the nuclear deal was to regain its markets in Europe. Before the latest sanctions were imposed in 2012, Iran was exporting about 0.6 million barrels a day of crude to countries in the European Union.

Meanwhile, China, India, Japan and South Korea are still Iran's most important customers.