Code: 627516 A

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).


oil exports
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