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Oil Minister: Iran's Crude Exports Hit $60B despite Sanctions

Source: Fars News Agency

Iranian Oil Minister Rostam Qassemi announced that despite the international and unilateral sanctions against the country's oil sector, Iran's annual crude exports have reached 60 billion dollars.

Iranian Oil Minister Rostam Qassemi

"This year the status of (our) oil exports has improved and long strides have been taken for the flourishing of the country's economy," Qassemi said on Tuesday evening.

"Despite the fact that all countries have mobilized against Iran, the country's oil exports have reached $60bln now," he added.

Qassemi downplayed the effects of sanctions on the country's progress and flourishing, and said enemies should know that Iran is independent from other countries and sanctions have led to Iran's further progress and development.

In the last days of 2011, Washington imposed new sanctions on Iran to penalize countries for importing Iranian oil or doing trade with its central bank.

The US extraterritorial laws and pressures forced the EU member states to ratify in their meeting on January 23 and after months of debates to sanction oil imports from Iran and freeze the assets of Iran's Central Bank within the EU.

The Iranian oil ministry in a statement in late January downplayed the effects of the US and EU's unilateral oil sanctions against Tehran, and said such embargoes will merely harm the European economies and oil consuming countries.

European sanctions against Iran's oil exports will affect the world economy and hurt European and non-European countries, the statement said.

Later, Tehran summoned the ambassadors of Italy, Spain, France, Greece, Portugal and the Netherlands to protest at the EU's unilateral sanctions against Tehran over its peaceful nuclear program, and warned them that it would soon stop oil exports to these countries if they do not reverse their decision.

After the EU's decision to embargo Iranian oil supplies, Tehran stopped exports first to France and Britain and very recently to Greece and Spain. Following Tehran's oil sanctions against the three and its warning to other EU members, oil prices started soaring in the world markets.

Meantime, demand is growing for Iranian crude oil in Asian and African markets after the EU's fresh decision.

Iran is currently supplying 100% of Sri Lanka's oil needs, 51% of Turkey, 25% of South Africa, 14% of Greece, 13% of Italy and Spain, 11% of India and China and 10% of Japan and South Korea's oil demands.

... Payvand News - 04/17/12 ... --

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