Iran increases oil exports despite US sanctions, - Reuters
Despite the US sanctions, Iran’s oil exports rose in the last two months of 2022, peaking at around 1.2 million barrels per day, and retain the potential for further growth in 2023.
This is reported by Reuters with reference to the data of profile companies of the oil market, Censor.NET reports with reference to Ukrinform.
The publication reminds that in 2018, after the decision of the Administration of US President Donald Trump to withdraw from the 2015 nuclear agreement with Iran, the United States renewed sanctions and imposed restrictions on the export of Iranian oil.
During the term of President Joe Biden, who sought to restore the nuclear deal, exports began to increase and have continued to rise, even with the stalled negotiations and competition from Russian crude, which is sold at deep discounts.
According to preliminary estimates by market participants, crude oil exports from Iran in December 2022 averaged 1.2 million barrels per day, 42 thousand barrels per day more than in November and 130% more than a year earlier, and is the highest indicator of 2022.
The largest buyer of Iranian oil remains China, to which Tehran, under sanctions, sells crude oil under forged documents to hide its true origin and protect Beijing from US claims.
In addition, last year Iran increased its cooperation with Venezuela, which is also under US sanctions, sending it its light oil for further processing and certain chemical components needed in the production of crude oil suitable for export.
The publication notes that after the withdrawal of the United States from the nuclear agreement and the reimposition of anti-Iranian sanctions, crude oil exports from Iran fell to 100 thousand barrels per day in 2020 from more than 2.5 million barrels per day in 2018, which led to a sharp deterioration in social - the economic situation in the Islamic Republic.
