Iran to sell two million barrels of crude on IRENEX

IRNA – National Iranian Oil Company announced on Sunday that it is going to offer two million barrels of crude oil in the international ring of the Iran Energy Exchange (IRENEX) on Tuesday.

The oil is to be sold at a bid price of $59.28. The buyers will receive the oil in three months.

This is the 12th time Iran is selling oil through the stock market.

Offering of Iranian oil on stock market is in line with the Resistance Economy blueprint, proposed by Supreme Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei, in order to create a wide variety of methods to sell oil and to use capacity of the private sector to export oil.

The blueprint has been adopted to thwart the US arbitrary and unilateral sanctions the US imposed in total disregard of the UN Security Council Resolution 2231 requiring to lift sanctions on Iran.

The US Department of Treasury is abusing SWIFT (Society for Worldwide Interbank Telecommunication) link to cut off banking ties of the Central Bank of Iran in contravention of the UN Charter requiring sovereignty equality of the member states.

US Sanctions on Central Banks of the sovereign states amounted to declaration of war against Iran.