growth in iran\s crude exports proves ineffectiveness
Last Updated : GMT 13:26:10
Arab Today, arab today
Arab Today, arab today

Growth in Iran\'s crude exports proves ineffectiveness

Arab Today, arab today

Arab Today, arab today Growth in Iran\'s crude exports proves ineffectiveness

Tehran - FNA

Recent data released by the Joint Organization Data Initiative (JODI) showed that Iranian crude export has increased in January despite sanctions. Iran, the second-biggest producer of the Organization of Petroleum Exporting Countries (OPEC), exported 2.265 million barrels a day in January, its highest monthly figure since December 2008, Bloomberg reported on Monday. Earlier media reports said that Iran\'s crude exports to India have increased to 550,000 barrels a day in January which shows a 37.5% growth compared with the same period last year. India has increased oil imports from Iran to become the Islamic Republic\'s largest customer in January, ignoring recent sanctions imposed by US and EU on importing Iran\'s oil. The development, the Wall Street Journal report said, has partly offset a 50 percent cut in crude exports to China as a result of pricing dispute. China now imports around 250,000 barrels a day from Iran. The news comes despite the West\'s rising pressure on Iran to halt its peaceful nuclear program. On the New Year\'s Eve, the United States imposed new sanctions against Iran aimed at preventing other countries from importing Iran\'s oil and doing transactions with its central bank. After months of debates, the EU member states also eventually reached an agreement in their meeting on January 23 to sanction oil imports from Iran and freeze the assets of Iran\'s Central Bank within the EU. Following the decision, EU foreign policy chief Catherine Ashton claimed that the sanctions are aimed at pressuring Iran to return to talks over its nuclear program. Despite Ashton\'s claims, Iran has always underlined its preparedness to resume talks with the West but has meantime stressed that it will never accept any precondition for such talks.

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