Iran’s oil exports not disrupted as new US sanctions loom
By Trend
NIOC (National Iranian Oil Company) Managing Director Ali Kardor
said Iran is exporting nearly 2.5 million barrels of crude oil on a
daily basis.
Impending new US sanctions have not thus far undermined the flow of
oil supplies to international markets, Kardor said on May 26.
He added that Iran’s total exports of crude stood at an average of
2.5 million barrels per day (m/bpd), SHANA news agency
reported.
The US has failed to make any impact on the country’s oil export
process, the Iranian official said, adding that Iran’s oil exports
will remain unchanged if the Iran nuclear deal, known as the Joint
Comprehensive Plan of Action, is salvaged by the EU following the
US withdrawal from the multinational accord.
US President Donald Trump recently said he would take the US out of
a 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).
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