There will be no dead end

Iran boosts oil exports sharply in September

September 26, 2020 - 18:37

TEHRAN- The latest reports on Iran’s oil exports indicate that the country has risen oil exports sharply in September in defiance of the U.S. sanctions.

Data from TankerTrackers and two other firms indicated exports are rising in September, although the figures fall into a wide range of between 400,000 bpd and 1.5 million bpd, Reuters reported.

The amount was twice that of August, TankerTrackers data showed, and around 11 percent of it was ultra-light crude, known as condensate. The range for August’s exports is 300,000 bpd to 750,000 bpd.

The two other firms also see an increase in September, although not to the same extent.

One of them said it was seeing an increase of at least 100,000 bpd in September to 400,000 bpd. That is a sizeable volume, according to tracking firm Kpler.

Washington reimposed tough sanctions on Iran after U.S. President Donald Trump withdrew from the 2015 nuclear deal with the world powers.

While the U.S. sanctions have been mainly targeting Iran’s oil exports since 2018, Tehran has always said that it will continue to export oil in defiance of the U.S. sanctions.

The country has repeatedly stated that it has its own methods of countering the sanctions.

In a relevant remark in May 2019, Deputy Oil Minister Amir-Hossein Zamaninia said, “Iran is mobilizing all its resources to sell its oil in a gray market, countering unjust and illegitimate U.S. sanctions.”

“This is not smuggling. This is countering sanctions which we do not see as just or legitimate”, the official stressed.

Oil Minister Bijan Namdar Zanganeh has several times reiterated that his country will develop oil industry despite the sanctions.

"We will not surrender under any circumstances. We have to increase our capacity so that when necessary with full strength we can enter the market and revive our market share," Zanganeh said in mid-July.

MA/MA

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