Iran using all resources to sell oil in ‘grey market’: deputy minister
07 May 2019

Iran has mobilized all its resources to sell oil in a “grey market”, bypassing U.S. sanctions that Tehran sees as illegitimate, state media quoted Deputy Oil Minister Amir Hossein Zamaninia as saying on Sunday.

The United States, which last year withdrew from a 2015 Iran nuclear deal with world powers, has told buyers of Iranian oil to stop purchases by May 1 or face sanctions.

Iran says it will continue to export oil in defiance of U.S. sanctions, part of a campaign by Washington aimed at halting Tehran’s ballistic missile program and curbing its regional power.

“We have mobilized all of the country’s resources and are selling oil in the ‘gray market’,” state news agency IRNA quoted Zamaninia as saying.

Zamaninia gave no details about the “gray market”, but Iran is widely reported to have sold oil at steep discounts and often through private firms during sanctions earlier this decade.

By Dubai newsroom, Reuters, 5 May 2019

Read more at Reuters

Photo: Behrooz Rezvani [CC BY 3.0], via Wikimedia Commons

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