Iran Says Oil Exports Increase After Being Affected by Sanctions

Iranian oil minister Rostam Qasemi said his nation’s oil exports are rising after being affected by a European embargo that started in July, the Associated Press reported.

Iran has “no problem” selling its crude, Qasemi was quoted as saying in an address to the parliament in Tehran today. The country’s oil exports are increasing and with this “the way has been paved for more currency income,” he said, according to AP, which cited a report by the state-run Mehr news agency. Qasemi provided no figures, based on the report.

Iran has found ways to bypass some of the restrictions on Iranian oil by providing insurance to tankers carrying the country’s crude to Asian customers, Qasemi told lawmakers.

To contact the reporter on this story: Ladane Nasseri in Dubai at lnasseri@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net.

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