Economy

Ineffectiveness of Sanctions: Iran Exports Oil to 17 Countries Including "European" Nations

Ineffectiveness of Sanctions: Iran Exports Oil to 17 Countries Including

Iranian Oil Minister Javad Owji confirmed that Iran exports its oil wherever it wants, clearly stating the "ineffectiveness" of U.S. sanctions on Iran. The semi-official news agency "Mahr" reported that Owji said, "Iran sells crude oil to 17 countries," indicating that "some countries may not adhere to U.S. sanctions."

In a video clip published by the agency, responding to queries about foreign reports stating that European countries import Iranian crude oil, Owji said: "We sell our oil wherever we want; in fact, we export to 17 countries, including some in Europe." He added that he could not provide further details on the quantities sold or the identities of the buyers due to the sensitive nature of the issue.

Washington reinstated sanctions on Tehran in 2018 after Donald Trump's unilateral withdrawal from the 2015 nuclear agreement, which allowed Iran to sell its oil in exchange for limiting its nuclear program. Consequently, Iran's list of oil buyers sharply declined, with most of its exports then directed to China and smaller quantities to its regional ally Syria.

However, Iran has managed in recent times to increase production and exports, even surpassing Iraq as the second-largest producer in OPEC of crude oil and petroleum liquids. Iran's oil production has risen to over 4 million barrels per day, while its exports have exceeded 1.5 million barrels per day during the first quarter of the current year.

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