Iran is pinning its hopes on the European Union in its efforts to skirt new US sanctions, while also courting Russian and Chinese investments to keep its oil ambitions alive. * European customers account for one-third of Iranian exports * Oil minister says sanctions will slow down oil production growth * Iran hopes to bring in small and medium-sized European investors “We expect Europe to help us receive the money for the oil we are exporting. We are receiving most of our oil revenue in euros and it needs to have circulation in European banks. This is one of the main [items on the agenda] that we discussed with the European Union,” Iranian oil minister Bijan Zanganeh told journalists Saturday after meeting with EU officials in Tehran. Europe is a key outlet for Iran’s oil, taking around 700,000 b/d, or a third, of Iranian crude exports. A number of […]