Iran’s Export of Oil and Cars increasing , Despite Unilateral Economic Sanctions by US & EU


Iran's Oil Export IncreasingJNN 07 Mar 2013 Tehran : Iran exported about 50,000cars and 56,000tons of gasoline , which is valued at about US$ 300Million in the first eleven months of the Iranian Calendar ,which shows the increase in its exports of both the items , despite the Unilateral  sanctions imposed by the US and the European Union.

Iran exported 56,000 tons of gasoline, valued at $52 million, in the first eleven months of the current Iranian calendar year (March 20, 2012-February 18, 2013), the Fars News Agency reported.

The figure showed 100 percent increase compared to the same period in the previous year despite sanctions which have been imposed against the country.

Meanwhile, on February 4, Iranian MP Mehdi Mousavinejad said that cutting gasoline imports in the current time is not feasible, because domestic production does not meet demands, the YJC news website reported.

The country has not reached self-sufficiency in gasoline production, he said, adding that cutting gasoline imports will damage the transportation sector.

At the beginning of 2012, the United States and the European Union imposed new sanctions on Iran’s oil and financial sectors with the goal of preventing other countries from purchasing Iranian oil and conducting transactions with the Central Bank of Iran.

U.S. sanctions entered into force on June 28, while EU bans on Iranian oil imports came into force on July 1.

In October, the EU approved another major package of economic sanctions on Iran.

In October 2012, ISNA quoted National Iranian Oil Production and Distribution Company’s managing director Alireza Zeighami as saying that Iran is currently producing 25 million liters of premium gasoline per day, meeting euro-4 and euro-5 standards.

The country’s gasoline output is projected to hit 70 million liters per day by the end of the next Iranian calendar year, he added.

He also said that diesel oil output will reach 95 million liters per day by the end of the current Iranian year, of which 25 million liters meet euro-4 and euro-5 standards.

Iran exported 49,952 cars, valued at about $294 million, during the first eleven months of the current Iranian calendar year, which began on March 20, 2012, the Mehr News Agency reported.

During the same period in the previous year, 18,455 cars, worth $96 million, were exported.

Iraq, Ukraine and Azerbaijan were the main importers of Iranian cars.

Meanwhile, 38,399 cars, valued at $932 million were imported into Iran during the 11-month period. The UAE, South Korea, and Kuwait were the main sources of car exports.

On February 3, ISNA reported that the Iranian administration has decided to reduce car import charges by 5 percent in a bid to create a balance in prices of cars in the domestic market.

The car import charges will be decreased by 5 percent in the next Iranian calendar year, which begins on March 21.

Iran plans to manufacture at least three million cars by 2025 and export some one million sets, Iranian Industry, Mines, and Trade Minister Mehdi Ghazanfari said on June 16.

 

One thought on “Iran’s Export of Oil and Cars increasing , Despite Unilateral Economic Sanctions by US & EU

  1. Pingback: Iran becoming the Power Generation Hub of the Region, Electricity Exports rising at the rate of 29% |

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