Iran says oil exports hit highest level since re-imposition of U.S. sanctions: Tasnim

DUBAI –

Iran’s oil exports have reached their highest stage because the re-imposition of U.S. sanctions in 2018, the nation’s Oil Minister Javad Owji stated on Sunday, in line with the semi-official Tasnim news company.

Following the United States’ exit from a 2015 nuclear deal and its re-imposition of sanctions on Tehran in 2018, Iranian oil exports and revenues have taken a big hit as few nations — with the notable exception of China — proceed to buy Iranian crude.

The oil minister stated that 83 million extra oil barrels within the present yr beginning March 21, 2022, have been exported in comparison with the earlier Iranian yr working March 2021-22.

This represents 190 million extra barrels than two years prior in line with Owji, who added that gasoline exports elevated by 15% in 2022-23 in comparison with the earlier Iranian yr.

The United States on Thursday imposed sanctions on 39 entities, together with many based mostly within the United Arab Emirates and Hong Kong, that Washington stated facilitate Iran’s entry to the worldwide monetary system, describing them as a “shadow banking” community that strikes billions of {dollars}.

Brian O’Toole, a former U.S. Treasury Department official, stated Thursday’s motion would put a dent in Iran’s potential to maintain shifting oil and receives a commission for it.

(Reporting by Dubai Newsroom Editing by Raissa Kasolowsky and Frances Kerry)