Iran sells oil only through euro
Baku, Azerbaijan, June 17
By Emil Ilgar - Trend:
Iran sells its crude oil to international markets only through euro, Oil Minister Bijan Namdar Zanganeh said, Iran parliament's official website Icana.ir reported on June 17.
He said that Iran even cancelled selling oil to India through rupee.
After western sanctions got imposed on Iran, the country started receiving 45 percent of its oil expert revenues to India though rupee. Iran recently announced that currently India is issuing payments through euro.
US and EU eliminated sanctions on Iran in January, but the country is still banned to sell its oil through USD.
Iran's oil export increased from about 1 million barrels per day (mb/d) in sanctions era to above 2 mb/d currently.
According to the International Energy Agency, the country's crude oil production also increased from 2.8 mb/d in sanctions era to 3.7 mb/d in May.