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Page added on July 9, 2012
Iran sets up private oil export to beat sanctions
An official says Iran has set up a private oil export group in an attempt to bypass a European ban on buying Iranian oil.
The ban is part of Western sanctions aimed at pressuring Iran over its nuclear program.
Hasan Khosrowjerdi, head of the Iranian oil products exporters union, said Monday the first contract for exporting Iran’s crude through the private sector will be signed next week.
Formation of the private group is the latest sign that the sanctions are taking a toll on Iran. The West suspects Iran is aiming to build nuclear weapons. Iran denies that.
It was not immediately clear whether routing oil through the private group would allow it to be sold in Europe. The EU has accounted for 18 percent of Iran’s total crude exports.
One Comment on "Iran sets up private oil export to beat sanctions"
BillT on Tue, 10th Jul 2012 1:22 am
This is old news to those who do not rely on the propaganda mills called ‘news’ in the Empire. Almost all of the previous oil customers have worked out alternate methods to get Iranian oil. Even the Empire has exempted many countries from the embargo. Obama is a paper tiger.