Iran’s export to Asia increases over recent months

Posted on February 21, 2012

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Iran’s exported goods to Asian countries have increased over the last 10 months in recent year where as its exports to Oceania, Europe, America and Africa have decreased.

The volume of the exports to Asian countries over the last 10 months totaling 50,655,000 tons of goods hits $24,295,000,000.

Iran’s exports to the continent in 2010 reaching 47,937,000 tons costs $18,889,000,000, which shows 28.62 percent increase in value and 5.67 percent increase in export of the products.

I assume the same will be happening to oil exports, as European countries slowly decreasing their imports from sanctions-tightened Iran, and looking for other oil suppliers. Such countries as Saudi Arabia have already expressed interest and willingness in supplying their oil, taking Iran’s place.

Recently, Iran has threatened to cut oil exports to Spain, Italy, Greece, Portugal, Netherlands and Germany like the United Kingdom and France if the European Union takes hostile position against the country.

Head of the Iranian National Oil Company Ahmad Ghalebani said the oil exports to the EU has been decreased, however he did not specify.

The EU foreign ministers agreed in January to ban oil imports from Iran starting July 1, while Iran said “no worry”, and “we have our own crude customers”.

Industry sources told Reuters on February 16 that Iran’s top oil buyers in Europe were making substantial cuts in supply months in advance of European Union sanctions, reducing flows to the continent in March by more than a third – or over 300,000 barrels daily.

France’s Total has already stopped buying Iran’s crude, which is subject to fresh EU embargoes. Market sources said Royal Dutch Shell has scaled back sharply. Shell had no comment on the announcement.

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