Iran is still exporting oil as sanctions deadline looms

Dubai (CNN Business)US sanctions have failed so far to shut down Iranian oil exports, and eight countries have been granted temporary exemptions to allow them to buy from Tehran without fear of punishment even after the deadline to halt all purchases has passed.

Oil industry analysts estimate that Iran sold about 1.5 million barrels a day on world markets in October, even as it braced for the sanctions to take full effect starting Monday.
“This is an above and beyond expected result,” said Iman Nasseri, managing director for the Middle East at Facts Global Energy. “The Trump administration wanted to see zero out of Iran in November. We never believed that’s a realistic outcome.”

Add a Comment

Your email address will not be published. Required fields are marked *