Iran has found a way to beat US

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Photo: Raheb Homavandi / Reuters

Iran allowed private companies to export oil from the country. Thus, the authorities intend to circumvent the sanctions that the United States promised to reintroduce in the near future, reports Reuters.

According to first Vice President of Iran eshaq Jahangiri, crude oil will be sold through the exchanges, so private companies will be able to buy it and then export in a completely transparent scheme.

He pointed out that some oil — about 60 thousand barrels per day — and so are offered on the trading floors, however, was intended for export of oil products. “We want to defeat America’s attempts (…) to stop the export of Iranian oil,” he added.

In early may, the President of the United States Donald trump announced the country’s withdrawal from the agreement on the Iranian nuclear program. Other parties — Russia, Britain, China, France and Germany — criticized the decision and stated that they intend to keep the agreement in force. The EU also asked US to make an exception for European companies working with Iran, and not to apply sanctions to them.

Tehran and the six countries-mediators agreed on the terms of Iran’s nuclear program in the summer of 2015. The deal imposes restrictions on the activity of Tehran in the nuclear field in exchange for the lifting of sanctions by the UN security Council and restrictive measures imposed by the US and the EU. Under the agreement, Iran has refused the further development of the program. Limits for the Republic, including on oil exports, was canceled in January 2016.

Video, photo All from Russia.

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