Iran’s light crude sold at $109.77 in Asian markets
Azerbaijan, Baku, Aug.25/ Trend F.Milad/
Iran's light crude was traded at $109.77 on Wednesday in Asian markets, National Iranian Oil Company's director for international affairs Mohammad-Ali Khatibi said.
The country sold heavy crude at $108.34 to its Asian buyers, Khatibi added, the Mehr News Agency reported.
Khatibi, who also represents Iran in OPEC, said Iran follows a specific formula for selling crude oil in international markets. "The country has still certain customers in Europe," he added.
Oil Minister Rostam Qasemi said in July although the West seeks to topple the Islamic establishment by imposing sanctions against Iran's oil sector, the country's oil exports will never cease.
Qasemi emphasized that Iran's oil market will never close because oil consumer countries need Iranian crude.
"There are many ways to easily sell oil one of which is to take advantage of businessmen and the private sector," Qasemi said.
At the beginning of 2012, the United States and European Union (EU) approved new sanctions against Iran's oil and financial sectors which aim to prevent other countries from purchasing Iranian oil or transacting with its central bank.
US sanctions entered into force on June 28, while EU oil bans against Iran were enforced as of July 1.