Saturday 27 October 2018 - 10:21
Story Code : 324667
Iranian oil to be available for intl traders at energy bourse - Reports
Sputnik - Foreign customers will be able to trade Iranian crude oil at the Iranian energy bourse amid the looming US sanctions targeting the Middle Eastern country's energy sector, local media reported, citing Iranian Deputy Petroleum Minister Ali Kardor.
Foreign buyers will be able topurchase Iranian crude atthe international exchange afterreceiving special trade codes, the IRNA news agency reported onFriday, citing Kardor, who is also the CEO ofthe National Iranian Oil Company (NIOC).
The official added that over100 trading codes have already been issued forforeign customers.
According tomedia reports, citing the Iranian Securities Exchange Organization (SEO), the Middle Eastern country's crude is scheduled tobe presented forthe first time atthe energy exchange onSunday ata base price of $79.15 per barrel.
Washington reimposed sanctions onTehran afterthe US withdrawal fromthe Iran nuclear deal inMay, a move strongly condemned byTehran.
The first roundof sanctions was introduced inAugust. Even tougher restrictions, mainly targeting the Iranian oil industry, are expected tobe slapped inNovember asWashington is seeking tosqueeze Tehran outof the global energy market.
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