ECONOMY

Wed 15 Mar 2023 5:53 am - Jerusalem Time

Iran: Oil exports are at their highest level since the US reimposed sanctions in 2018

Iran's Oil Minister Javad Ochi said on Sunday that the country's crude oil exports have reached their highest levels since the re-imposition of US sanctions in 2018, the official IRNA news agency reported.


Oji stated that Iran's exports of crude oil increased by 83 million barrels since the beginning of the current Iranian calendar year, which started from March 21, 2022, to February 19, 2023, compared to the same period from 2021 to 2022.


He added that it also showed an increase of 190 million barrels compared to the same period from 2020 to 2021, without disclosing the exact figures for Iran's total exports of crude oil.


The Iranian oil minister said that the country's gas exports witnessed a year-on-year rise of 15 percent in the current Iranian calendar year, noting that Iran has achieved 6.5 billion US dollars of its liquefied petroleum gas exports since March 2022.


In May 2018, the United States tightened its sanctions on Iran, mainly targeting the country's oil exports and banking sector, after it unilaterally withdrew from the 2015 nuclear deal, formally known as the Joint Comprehensive Plan of Action.


Talks on reviving the JCPOA began in April 2021 in Vienna. No breakthrough has been achieved after the latest round of talks in early August 2022.

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Iran: Oil exports are at their highest level since the US reimposed sanctions in 2018

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