Iran eyes private oil exports to help beat U.S. sanctions

[DonViejo]

Source: Reuters




JULY 1, 2018 / 3:16 AM / UPDATED 2 HOURS AGO

Reuters Staf

DUBAI (Reuters) - Iran will allow private companies to export crude oil, part of a strategy to counter U.S. sanctions, and is urging fellow OPEC members, including regional rival Saudi Arabia, not to break output agreements, state media and officials said on Sunday.

Iran is looking at ways to keep exporting oil as well as other measures to counter sanctions after the United States told allies to cut all imports of Iranian oil from November.

“Iranian crude oil will be offered on the bourse and the private sector can export it in a transparent way,” First Vice President Eshaq Jahangiri told an economic event in Tehran broadcast live on state television. “We want to defeat America’s efforts ... to stop Iran’s oil exports,” he said.

“Oil is already being offered on the bourse, about 60,000 barrels per day, but that has been only for exports of oil products,” Jahangiri said. Iran has an oil and petrochemicals bourse as part of its mercantile exchange.

Read more: https://www.reuters.com/article/us-iran-nuclear-usa-oil/iran-eyes-private-oil-exports-to-help-beat-us-sanctions-idUSKBN1JR17D

[DFW]

1. I have an Iranian friend here in Germany

He is an exile from the Ayatollahs, but has much family back in Iran, and goes back regularly for visits. He is a little connected, and knows several regions well, including the little-publicized island of Kish, which is sort of an Iranian Hong Kong. Dick Cheney has owned a house there for many decades, although he has switched the official ownership to Halliburton. My friend has friends with a house there, and he has accompanied them to the equivalent of the city hall and seen the registrations.

He also tells me that the embargo is a joke, and that Iran is willing to (and does) do business with every country in the world except Israel. This includes, notably, the USA. Though they do it through thinly disguised third party transactions, it's close to business as usual as if the Shah were still in place. Ayatollah, schmayatollah. They are open for business. It's an open secret among Republicans involved, but they worship money more than they worship any flag or church.

[Iliyah]

2. A lot of USA's citizen know this . . .

so does the current corrupt USA government. So therefore, the USA's government is buying oil from Iran which keeps Iran highly afloat. Logic is not this government's strong point. Now shithole is requesting about 2 million barrels from Saudi, go figure. The USA's economy is tanking and the world watches with glee.