Iran is paying a high price for its refusal to abandon its nuclear programme with sanctions aimed at oil exports costing the country US$133 million (Dh488m) a day.
Since tough US and European Union measures came into full effect last month, Iran's crude exports halved to about 1.1 million barrels a day (bpd), Bloomberg data show.
After four rounds of UN sanctions had failed to make an impact on sales, the new round targets the payment mechanisms of the oil trade with Iran and the insurance of oil tankers carrying Iranian product.
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