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FinancialNews


  • 26-07-21

    Iranian Oil Minister to expand its oil exports in breaking of US sanctions

    (MENAFN)Iran started its first oil export terminal where there is no need for tankers to pass through the Strait of Hormuz, to expand its oil exports in breaking of US sanctions.

    It would support exports, stated Iranian Oil Minister Bijan Namdar Zanganeh, saying that it was “a manifestation of the breakdown of sanctions.”

    The new pipeline and terminal would support Tehran “win back the Iranian oil market from rival countries,” official IRNA news agency reported.

    Iran’s other major oil terminal is situated at the Gulf port of Kharg, accessed through the Strait of Hormuz that is under 40 km wide at its narrowest point.

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