Iran starts oil sales to private exporters to beat U.S. sanctions | Reuters:
Iran began selling crude oil to private companies for export on Sunday, part of a strategy to counter U.S. sanctions which come into effect on Nov. 4 and aim to stop the country’s key crude exports, the oil ministry’s news website SHANA reported.
Crude oil trade is state-controlled in Iran. Earlier, private refining companies could only buy crude oil for exports of oil products, officials have said.
Out of 1 million barrels offered on the energy bourse, 280,000 barrels were sold at $74.85 per barrel, SHANA added.
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