At the time that we’re nearing to the second batch of US sanctions which will target Iran’s oil and gas exports on November 4, Iranian regime discounts oil to counter US sanctions by keeping its Asian customers.
India, the second biggest crude customer for Iran, may cut its imports from Iran by half to secure a waiver from the U.S. to continue with shipments, sources say.
An Iran’s official at the state-run National Iranian Oil Company (NIOC) has told state-run news agency, IRNA, that the company was reducing its prices for September sales to Asia to their lowest level in 14 years.
After initial success in encouraging Japan and South Korea, U.S. is trying to convince even European Union nations. These push backs are forcing the U.S. to consider waivers to countries on a case-by-case basis as it feels even a significant reduction would be a blow to Iran’s battered economy.
Based on the new decision, Tehran has decided to offer sixty cents discount for each barrel of its heavy crude oil sought by many Asian countries.
Bloomberg reported that, during the past six months, Iran exported 1,7 million barrels of oil per day to Asia and the amount shows the significance of discounts Tehran is offering.
Khamenei laid the blame for the catastrophic economic situation in Iran on his president, Hassan Rouhani. In criticizing the government’s lack of readiness to deal with the sanctions, he said, “Most of the recent economic problems are due to the measures are taken within the country. If actions are taken more efficiently, more prudently, more swiftly and more firmly, sanctions cannot have much effect.”
Nevertheless, it’s the first time that Iran is offering discounted prices to the Asian countries for single consignments of crude.
The Iranian regime is suffering from a huge economic crisis within. This crisis reflects the impasse that the regime finds itself in and its confrontation with the opposing people. The economic crises flare up day by day.