Via : http://www.mehrnews.com
TEHRAN, Feb.2 (MNA) – Iran has quickly found ways to circumvent the EU sanctions imposed on its oil trade in July. After dipping sharply in summer of 2012, Iranian crude oil exports rose again by the end of the year.
So far, Iran’s December crude oil sales were the highest recorded since the sanctions were first imposed. Iran exported 1.4 million barrels per day (bpd) in December, compared to less than 900,000 bpd in September.
EU sanctions, introduced in January 2012 and put into effect in July, aimed to curb Iran's civilian nuclear program.
Analysts believe that sales to Asia and the expansion of Iran’s tanker fleet helped the Islamic Republic circumvent the sanctions. In countries like China, India and Japan, Iranian oil constitutes more than 10 percent of the total crude supply – and demand from Asia is only growing.
"China is saying let's up the numbers because no-one is doing anything about it and it looks like Obama has made a political decision not to go to war with Iran," a senior source at a large independent trading house told Reuters.
Iran is also improving its delivery channels, despite the numerous bans and restrictions imposed by the international community.
"Iran bought a number of tankers from China and can now do more deliveries. It's taken some pressure off Iran and facilitated tanker traffic and we are seeing higher exports to China," analyst Salar Moradi at oil and gas consulting firm FGE told Reuters.
Source: rt.com
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