News ID: 215128
Published: 0313 GMT May 15, 2018

Iran says oil exports uninterrupted as sanctions loom

Iran says oil exports uninterrupted as sanctions loom

A top Iranian oil official said all of the country's oil cargoes have designated customers worldwide, stressing that the potential US sanctions have not so far undermined the flow of oil to international markets.

Pirouz Mousavi, the head of National Iranian Oil Terminals Company (NIOTC) said that Iran's total exports of oil and condensate stood at an average of six million barrels per day (mbd), according to PressTV.

Mousavi added that 60 percent of exports were bound for Asia and the rest for Europe.

Last Tuesday, US President Donald Trump said he would take the US out of the nuclear agreement that was signed with Iran in 2015. He also signed a presidential memorandum to re-impose what he described as the 'highest level of sanctions' against Iran.

The memorandum specifies that many of the sanctions should be re-imposed in 90 days — by August 6, 2018. The most important ones — as reported by media — would be a ban on Iran over buying or acquiring US dollars.

Another set of sanctions will once again be clamped down on Iran within the next 180 days. The most important sanctions would be those concerning Iran's oil sales and energy sector investment as well as transactions with the Central Bank of Iran (CBI).

Mousavi, whose NIOTC is in charge of controlling Iran's oil and oil products export points, further underlined that Iran currently had no oil stored in its tankers at sea in what could have otherwise meant that Iran was not able to sell its crude.

He said around 800 million barrels had been exported in the year which ended on March 20.

The official added that modifications had been made to load a collective of eight million barrels of oil and oil products at Kharg terminal in a single day, stressing that this would be the new capacity of Iran's oil exports.

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