Iran Boasts That Even With Sanctions, Iran Has New Customers For Its Oil

Oil tankers pass through the Strait of Hormuz, December 21, 2018. REUTERS/Hamad I Mohammed

Reuters: Iran says despite U.S. sanctions, it has found new 'potential' oil buyers

LONDON (Reuters) - All countries that were granted waivers from the United States to continue buying a certain amount of Iranian oil imports are complying with U.S. sanctions, a senior Iranian energy official said, noting that Tehran was hopeful to find new buyers.

The United States withdrew from a nuclear deal with Iran last year and snapped sanctions in place to choke Iran’s oil and banking industries, while temporarily allowing eight customers to keep buying crude from the Islamic Republic.

“China, India, Japan, South Korea and other countries that were granted waivers from America to import Iranian oil are not willing to buy even one barrel more from Iran,” Amir Hossein Zamaninia, Iran’s deputy oil minister for trade and international affairs, was quoted as saying by the Oil Ministry’s news agency SHANA.

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Update #1: Iran finds new oil customers despite US sanctions (Press TV)
Update #2: Iran has new ‘potential’ buyers for its oil, defying US sanctions (RT)

WNU Editor: I would not be surprised if Iran has found new potential customers for its oil. I would also not be surprised if they are selling this oil at a huge discount. But the bottom line is that these sanctions are hurting, and Iran is facing tough economic times .... Iran Bracing For Economic Contraction As Oil Exports Crumble (OilPrice.com).