Exclusive: Iran wants euro payment for new and outstanding oil sales – source

A general view shows a unit of South Pars Gas field in Asalouyeh Seaport, north of Persian Gulf, Iran November 19, 2015. Reuters/Raheb Homavandi/TIMA

 

 

Iran wants to recover tens of billions of dollars it is owed by India and other buyers of its oil in euros and is billing new crude sales in euros, too, looking to reduce its dependence on the U.S. dollar following last month’s sanctions relief.

A source at state-owned National Iranian Oil Co (NIOC) told Reuters that Iran will charge in euros for its recently signed oil contracts with firms including French oil and gas major Total, Spanish refiner Cepsa and Litasco, the trading arm of Russia’s Lukoil.

Iran wants Greece to be ally within EU

Iran hopes to make Greece a reliable ally within the European Union and hopes Greece could become an enterance [sic] gate into the European market. 

Iran’s 40 million barrels stored at sea

Shipping sources and tanker tracking data showed over the past three months Iran had deployed at least 15 very large crude carriers (VLCCs), each capable of carrying 2 million barrels, to store oil.

Iran is storing as much as 40 million barrels of oil on supertankers at sea as it prepares for a sales drive if a nuclear deal can be sealed.

In the meantime, Iran has been parking oil off its coast, mainly on tankers belonging to its national carrier NITC.

Iran’s elite commando force running oil sector, bypassing sanctions

Time and time again, history has proven that third-world economies have no bottom, no matter the amount or severity of sanctions. So long as China and Russia keep backing the Iranian regime, and as long as energy resources are in high demand world-wide, they will likely never be stopped without resorting to war.

WASHINGTON — The United States has determined that the Islamic
Revolutionary Guard Corps was directing Iran’s state-owned oil sector.

The U.S. Treasury Departrment said the state-owned National Iranian Oil Co. was controlled by IRGC, which was helping the firm bypass international sanctions on Teheran’s energy sector.

Treasury said IRGC was increasing its control over National Iranian Oil as the elite military sought clients for Iran’s sanctioned crude oil exports.

“Under the current Iranian regime, the IRGC’s influence has grown within NIOC,” Treasury said on Sept. 24.

Full article: Iran’s elite commando force running oil sector, bypassing sanctions (World Tribune)