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Iran Oil Exports Fell 60 Percent Since Sanctions, but Officials Deny Such Reports

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Iran said Tuesday it had so far been able to sell as much oil as it needs despite U.S. pressure, but urged European countries opposed to U.S. sanctions to do more to shield Iran, as Russia and Turkey also voiced their objections. The U.S. Monday restored sanctions targeting Iran’s oil, banking and transport sectors and threatened more action to stop what Washington called its “outlaw” policies steps that Tehran called economic warfare and vowed to defy.

Industry estimates suggest Iran’s oil exports have in fact fallen by 40-60 percent since Trump said in May that he would reimpose sanctions, but 180-day exemptions for Iran’s biggest oil clients could mean they rise again after November. (Shutterstock)

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