IEA: Future Sanctions Already Severely Effect Iranian Oil Exports
Posted: 12 Feb 2012 02:37 PM PST
In the IEA’s monthly Oil Market Report they have said that the European and US trade sanctions designed to impede Iran’s nuclear program could affect far more than the 600,000 barrels per day (bpd) that the EU normally imports.
The sanctions are not set to come into effect for another 5 months, but already European customers are avoiding Iranian oil and many other countries such as China and India have been sourcing their oil imports from other nations such as Russia, Saudi Arabia and Africa. “Although there are five months…
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