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Iran earns $600m in April from fuel sales despite sanctions
- Iran: Sunday, May 05 - 2013 at 01:32
Oil traders have said Iran has exported nearly 8.7 million barrels of fuel oil in April, or about 300,000 barrels per day (bpd), Reuters has reported. The fuel oil exports were more than five times greater than shipments of 240,000 tonnes, or 1.56 million barrels, in April 2012. The April shipments earned Iran around $600m, the figures show, despite tough Western sanctions aimed at choking Iran's flow of petrodollars to force it to halt its nuclear programme. Iranian marketing officials and middlemen operating mainly out of the UAE have been able to bypass the sanctions using ship-to-ship (STS) transfers and by blending fuel oil with other oil in remote ports to mask its origin, the report said.
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