Iranian Oil Exports May Decrease by 0.5Mln Barrels Over US Sanctions – Reports

© REUTERS / Raheb Homavandi/File PhotoA gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Persian Gulf, Iran, July 25, 2005
A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Persian Gulf, Iran, July 25, 2005 - Sputnik International
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MOSCOW (Sputnik) – Iranian oil exports may decrease by 500,000 barrels per day because of new US sanctions that are expected to come into force in the future, Mehr reported on Tuesday, citing data from the National Iranian Oil Company (NIOC).

The country exported over 2.28 million barrels oil and over 330,000 barrels of natural-gas condensates per day in June, the Mehr news agency added, referring to the NIOC statistics.

According to the oil company, Washington's decision has not yet impacted the country’s oil exports.

READ MORE: Please Stop This: Iran's OPEC Chief Says Trump's Tweets Raise Oil Price by $10

The report echoes the statement made by Iranian Vice President Eshaq Jahangiri earlier in the day, vowing to boost oil sales, fighting against the US sanctions.

READ MORE: Iran to Sell as Much Oil as It Can Despite US Economic War — Vice President

On May 8, US President Donald Trump announced his decision to withdraw from the 2015 Joint Comprehensive Plan of Action (JCPOA), which requires Tehran to maintain a peaceful nuclear program in exchange for sanctions relief. Washington also decided to re-introduce restrictive measures against the Islamic Republic. Other parties to the agreement have not supported the US decision.

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