Iran Selling More Oil Despite Sanctions

Despite toughening sanctions on Iran by western countries, the nuclear hopeful is selling increasing amounts of fuel oil.

Reuters reported that despite US and EU sanctions prohibiting the import, purchase, and transport of Iranian petroleum products, the Islamic Republic shas sold approximately 648,000 tons of fuel oil per month between July and October, up from 636,000 tons from January to June, earning the country a whopping $410 million per month..

Strategies have included ship-to-ship transfers, redistributing cargo at remote ports and mixing Iranian fuel with product from other countries, dubbed “Iraqi special blend”.