Iran’s private sector and hopes to circumvent oil sanctions
Iran says a consortium of Iran's private sector companies will take on 20 percent of the country's total crude oil exports as international sanctions against the Iran's oil and banking sectors took effect on July 1. According to Mehr report, Oil Ministry and Central Bank have agreed to transfer the exports of some 500,000 barrels of crude oil (about 20 percent of Iran' total oil export) to the private sector as a way to circumvent the sanctions. With regarding this fact that Iran's private sector has never sold any oil, yet, then it's unclear that how can they succeed in organizing oil export, to ship, to get insurance and re-insurance, to get the money and the mechanism of transferring that to inside country. On the other hand, Iran has started offering oil in Kish Exchange since last year, but after 8 times failed attempts to sell crude oil, it withdrew from this plan. Hassan Khosrojerdi, the head of the Iranian Oil, Gas and Petrochemical Produc...