EghtesadOnline: Dismissing allegations by former president Mahmoud Ahmadinejad over mismanagement in the energy sector, the Oil Ministry said despite difficulties created due to the new US economic sanctions, revenues from oil exports have been received by the treasury.
EghtesadOnline: The government is exploring new ways to bypass US sanctions and find banking channels to Europe, China, and Russia for oil exports and financial transactions, says Asadollah Qarekhani, spokesman of the Majlis Energy Commission.
EghtesadOnline: Sanctions on Iran’s banks, oil exports, ships and ports, lifted in 2015 as part of a nuclear weapons agreement that Trump abandoned in May, will be reimposed on Monday. But it is not clear whether those banks would be allowed to participate in the Society for Worldwide Interbank Financial Telecommunication, or Swift. That is the system that allows the world’s banks to communicate with one another, making global transactions possible.
EghtesadOnline: The International Monetary Fund said on Thursday that Iran should implement policies to safeguard its macroeconomic stability after the reimposition of US sanctions that will cut Iranian economic growth by reducing oil exports.
EghtesadOnline: Iran Energy Exchange will launch crude oil futures from next week as part of a plan to facilitate oil exports as US sanctions targeting its energy sector in November draw nearer.
EghtesadOnline: Iran may resort to various ways of reducing the impact of US sanctions on its oil exports and those tactics could include secret oil shipments without trackers on tankers, bartered trades, discounts and extended credit periods on oil sales, analysts say.
EghtesadOnline: A U.S. plan to reduce Iran’s oil exports to zero will not succeed, Iranian Foreign Minister Mohammad Javad Zarif was cited as saying by an Iranian newspaper on Wednesday.
EghtesadOnline: Iran will respond with equal countermeasures if the United States tries to block its oil exports, the foreign ministry in Tehran said on Tuesday.
EghtesadOnline: In recent months, India and China purchased more than 600,000 bpd apiece from Iran. Together, that amounts to about 60% of Iran’s oil exports, which makes them hugely important to the efficacy of US sanctions.