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Struggle against sanctions: Private sector in Iran increasing involvement in oil market

Monday, 10 September 2012

Despite the tough sanctions imposed on Iranian oil, there are reports that the private sector has managed to send the first shipment of oil to buyers abraod using non-Iranian tankers. Hassan Khosrojerdi, Head of the Iranian Oil, Gas and Petrochemicals Exporters Union in the private sector, announced that after all the stages to find markets for the giant oil shipment, agreements were reached with the government, and the profits generated by the sale of the oil shipment were paid through barter. Khosrojerdi said that the Iranian government had owed money to the foreign company purchasing the oil, enabling accounts to be settled through barter. He added that following extensive marketing activity by several corporations in the private sector, a number of new contracts had been signed with foreign companies for the export of Iranian oil by private companies. Khosrojerdi added that despite the solution of problems in the past between the private sector and the National Iranian Oil Company and the Central Bank of Iran, one problem still remains between the private sector and the Central Bank, but he refused to go into details about this. He also reported on plans for a new mechanism for the transfer of oil profits, following the banking restrictions that have been imposed on Iran.

 
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  • Published: 2 years ago on Monday, 10 September 2012
  • By: Iran Daily Brief
  • Last Modified: September 10, 2012 @ 1:26 pm
  • Filed Under: Economy
  • Tagged with:
  • Source(s):
    • http://tinyurl.com/8aosey4; http://www.farsnews.com/plarg.php?nn=254918&st;=543408

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