Azerbaijan, Baku, Feb. 28/ Trend M. Moezzi
Iran is finding creative ways to bypass sanctions and get paid for its oil exports, Fars news agency reports a deputy foreign minister as saying.
Along with using local currencies or barter to get paid for its oil, Iran has found other creative methods to do its banking transactions said Seyed Abbas Araghchi, Iran's deputy foreign minister for Asia, Oceania and the Commonwealth of Independent States (CIS) countries.
Iran's oil sales haven't dropped in the face of sanctions, said Mr Araghchi, because between 70 to 80 per cent of exports go to Asian countries.
Oil sales may fluctuate from country to country, but Iran has been successful in neutralising U.S. led sanctions, said the deputy foreign minister.
The U.S and EU have imposed tougher sanctions against Iran. They have embargoed Iran's oil and sanctioned Iran's central bank, moves designed to hurt Iran financially.
The West's measures are part of an effort to make Iran answer questions about its nuclear program mewhich it says is peaceful and civilian in nature while the U.S. and its allies contend it is not.