Iran Has Only Four Customers For It's Oil

Image credit: Office of Iran's President

Asia Is Purchasing Nearly all of Iran’s Oil -- Zachary Keck, The Diplomat

Four Asian countries are now purchasing nearly all of Iran’s oil exports according a report this week from the Economist’s Intelligence Unit (EIU).

“Almost all of Iran's oil exports now go to China, South Korea, Japan and India,” the report said even as it noted a sharp decline in the amount of oil each country purchased from Iran during 2012.

Iran’s oil exports have been cut in half as a result of U.S. and EU sanctions that were enacted last year to pressure Tehran into making concessions on its nuclear program, which the West believes is aimed at acquiring a nuclear weapons capability but Iran claims is intended solely for peaceful purposes.

Read more ....

My Comment: And I suspect that China and the other Asian countries are getting a very good price for that oil.