Iran’s Oil Industry is Trying For a Comeback
From The Washington Post
By Jason Rezaian
Iran’s oil exports are being ravaged by sanctions, but there are signs under the new president, Hassan Rouhani, that efforts to attract old clients may be boosting the country’s most essential economic lifeline.
China, India and Japan, which together account for half of Iran’s oil exports, have increased their purchases over the past several months, offering some hope to Iran and complicating U.S.-led efforts to put pressure on the country over its disputed nuclear program by attempting to cut off its main source of income.
Under the U.S.-led sanctions, some importers of Iranian crude have been granted short-term waivers to continue buying if their imports demonstrate significant declines during six-month intervals. China, India and Japan received such exemptions.
The flow of oil is vital to Iran as oil exports make up nearly half of its revenue.
By posting your comment, you agree to abide by our Posting rules