Iran To Present 5m Barrels Of Oil At Stock Exchange Monthly: MP
Umer Jamshaid 6 days ago Mon 14th January 2019 | 09:01 PM
Iranian Ministry of Petroleum is charged with presenting monthly five million barrels of light and heavy crude oil and South Pars's gas condensate to the energy stock exchange, vice-chairman of Iran's Majlis (Parliament) Integration Commission said on Monday
Iran's Ministry of Petroleum is also urged to issue reports on selling oil to Majlis Energy Commission every three months, the lawmaker said.
On July 1, Iranian First Vice-President Eshaq Jahangiri announced that the government is to offer the country's oil through national stock exchange as the US has targeted Iranian oil sector in order to restrict the country's exports.
Despite the world's criticism over Washington's anti-Iran measures, US President Donald Trump reinstated unilateral sanctions on Tehran on November 5 and imposed as he claimed the "highest level" of economic bans on Iran.
According to Iranian officials, oil is a strategic product and the world needs the commodity. Those countries which have already stopped their oil imports from Iran are now after finding ways to indirectly buy Iran's oil.