Defying US sanctions, Iran boosts gasoil sales to Iraq, neighbors
2020-01-16 00:00:00 - Source: Baghdad Post
Iran is relying on its neighboring countries to sell a surplus of gasoil it has created at home due to U.S. sanctions, trade documents and industry data showed.
Iranian oil products, like its crude, fall under U.S. sanctions, but Tehran has significantly increased exports of gasoil in recent months, to some countries in the region including Iraq and Syria, by offering massive discounts.
Exports of gasoil, a refined product used in heating, power generation and transport, surged to around 95,000 barrels per day (bpd) in the fourth quarter of 2019, more than 80% higher than the previous quarter and nearly four times higher than the first quarter, data from consultancy FGE showed.