Iran begins oil sales on energy exchange in bid to counter U.S. sanctions

Iran begins oil sales on energy exchange in bid to counter U.S. sanctions

November 9, 2019 4 By Luis Garrison


Iran has started to sell oil to private
buyers through its energy exchange for the first time as part of efforts to
counter the imminent return of US sanctions the sanctions are aimed at
stopping the country’s key crude exports and follows president Trump’s decision
to walk out of the 2015 Iran nuclear deal they are due to come into effect on
November fourth only 280,000 barrels were sold on Sunday out of 1 million
offered and they went for just under $75 a barrel
however Tehran says it is confidence the US sanctions will not reduce its all
exports to the level of less than 1 million barrels per day