Sanctions could raise Iran oil revenues by minimum $10 billion
Azerbaijan, Baku, Mar. 6/ Trend F.Milad/
The recent UN sanctions on Iran's oil industry increased the country's average oil price by $20. The continuation of the current situation would raise Iran's oil revenues by at least $10 billion within the next six months, an analysis made by Fars news agency shows.
Iran currently exports some 2.4 million barrels of oil per day. Considering just 20 dollar rise in oil price, Iran will earn some $10 billion during the next six months as a result of the price hike.
EU foreign ministers approved sanctions against Iran on January 23, including a ban on Iranian oil imports, a freeze on the assets of the Central Bank of Iran (CBI) within the bloc's states and a ban on selling diamonds, gold, and other precious metals to Tehran.
The Iranian ambassador to Italy said that the number of customers for Iran's oil has increased.
Ambassador Mohammad Ali Hosseini said in February that only 18 percent of Iran's oil exports are destined for Europe and contrary to European countries' expectations, the number of customers for Iran's oil has increased since the embargo was adopted.
The Islamic Republic has already made it clear that the EU's decision to impose sanctions on Iran's oil exports is illegal and illogical and that the Europeans themselves will take the brunt of such sanctions, he added.