• Tuesday, August 20, 2019

Iran's oil revenues drop 58 percent since 2011

Discussion in 'Middle East & Africa' started by TruthSeeker, Sep 1, 2013.

  1. TruthSeeker

    TruthSeeker PDF THINK TANK: ANALYST

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    Iran's oil revenues drop 58 percent since 2011 as sanctions bite: U.S.


    By Timothy Gardner, WASHINGTON | Fri Aug 30, 2013 2:14pm EDT (Reuters)

    Iran's monthly revenues from oil sales have dropped 58 percent since just before the United States imposed harsher sanctions on the country in 2011 because of Tehran's disputed nuclear program, a senior U.S. official said.

    The OPEC member's monthly crude oil revenues averaged an estimated $3.4 billion in the first half of this year, down from $6.3 billion in the year ago period, and $8 billion from the first half of 2011, said the source, who did not want to be named due to the sensitive nature of policy on sanctions.

    Washington warned in late 2011 Iran's oil consumer countries that their banks would face being cut off from the U.S. financial system unless they significantly reduced purchases of Iranian oil. The EU has also cracked down on Iranian crude exports.

    The Obama administration has worked with the consumer countries to find alternative oil suppliers. It has also granted waivers on the sanctions passed in late 2011 every 180 days to all 20 countries, including China, India and South Korea, in return for their significantly reducing purchases of Iran's petroleum.

    Western countries believe Iran is enriching uranium to levels that could be used in a nuclear weapon. Tehran insists the program is for generating power and for medical devices.

    Washington increased pressure on Iran's leaders in February with sanctions that aim to freeze up Tehran's oil earnings in accounts in countries that buy the Islamic Republic's crude.

    The senior U.S. official said an assessment of the sanctions based on customs data from oil consuming countries showed $1.5 billion in Tehran's oil revenues are piling up in the accounts, money that Iran has difficulty accessing.

    "A significant portion of the Iranian government's revenue is accumulating and will continue to sit unused in overseas accounts with no prospect of being transferred to fund future Iranian imports," except humanitarian trade, said the U.S. official, who refused to be named due to the sensitive nature of policy on sanctions.

    Iran is only able to use the bulk of its currency reserves for bilateral trade with a handful of countries that import Iranian oil: China, South Korea, Japan, Turkey, and India, the source said.

    The loss of earnings has been devastating to Iran's economy. Its currency, the rial, has been devalued, and inflation and unemployment levels have soared.

    Critics of the sanctions say Washington needs to increase its diplomatic efforts, as sanctions simply deepen the resolve of Iran's leaders to keep up the nuclear program.

    There are some indications Iran has slowed part of its nuclear activities. But there are also signs it has stepped up other aspects of the program.

    The U.N.'s International Atomic Energy Agency this week found that Iran has plans to test about 1,000 uranium enrichment centrifuges it has completed installing, but that the planned Arak research reactor, which could yield potential bomb material, had been delayed from early next year.

    (Reporting by Timothy Gardner; Editing by Bob Burgdorfer)

    Iran's oil revenues drop 58 percent since 2011 as sanctions bite: U.S. | Reuters
     
  2. Arabian Legend

    Arabian Legend SENIOR MEMBER

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    Thanks to Saudi Arabia for stimulating the market ''oil for everyone'' strategy.


    Saudi boosts production to record high


    ^^this will definitely wreak more economic deprivation inside Iran. Let the mullas suffer the consequences of their stupid FPs.

    We Are the Winner.........:laughcry:
     
  3. The SiLent crY

    The SiLent crY SENIOR MEMBER

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    Thanks US and Saudi Arabia .

    I hope no one buys our oil cos that's the only possible way our governors and people including me will move fat as$es and work .
     
  4. Yzd Khalifa

    Yzd Khalifa ELITE MEMBER

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    Best of luck! Just make sure you won't hurt yourself :omghaha:
     
  5. UKBengali

    UKBengali ELITE MEMBER

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    As long the oil revenues do not go down further, then this may actually be beneficial for the Iranian economy.

    This could stimulate Iran to sell other products.

    Iran should find plenty of large markets in countries like China, Brazil and Russia.
     
  6. Mozambique Drill

    Mozambique Drill BANNED

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    Good news. They cannot sustain themselves on pistachio sales.

    Selling energy is everything to them and this Mullah regime needs to be brought to an end.

    Keep going until Oil sales are 0%. Fed up with Iran. 34 years of the Mullah Islamic coup has brought nothing but terrorism and danger to the whole region.
     
  7. raptor22

    raptor22 SENIOR MEMBER

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    Be sure centuries of the colonialism, interfering, waging war, killing and state terrorism of the western countries eventually one day will come to an end, we'll remain patient to see fruits of our resistance, till now you've been merely a looser many of your dreams were wished before, decades ago many like you have set times to see an end for this country, many plots military coups sanctions wars have been carried out to bring this nation to its knees but all of them have failed so thus, some bunch of the lunatic fringe whom stockpile thousands of nuclear weapons those who used it against other nation those who are known as first country which developed and possessed a nuke are pointing their fingers against a nation which has not waged a war within living memory of the human being,the question is who the hell you are to decide whether Iran is allowed to make a bomb or not.
     
  8. Mozambique Drill

    Mozambique Drill BANNED

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    Enjoy paying $5 for bread :lol:
     
  9. Cheetah786

    Cheetah786 PDF VETERAN

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    [​IMG]:omghaha:
     
  10. Serpentine

    Serpentine INT'L MOD

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    Ignorance has no limits...
    I just bought some breads today, each one costs around 0.05$ on average.

    We should say good job to you for living on charity money from western countries and U.S taxpayers.
     
  11. The SiLent crY

    The SiLent crY SENIOR MEMBER

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    I didn't find that interesting , Did you ?
     
  12. Mozambique Drill

    Mozambique Drill BANNED

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    Without Oil, the great persian nation would be sifting through sand for food.

    You are a nothing country.
     
  13. Yzd Khalifa

    Yzd Khalifa ELITE MEMBER

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    On please :D :lol:
     
  14. Yzd Khalifa

    Yzd Khalifa ELITE MEMBER

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    I have been to Tehran and Mashad, I noticed the fallowing :-

    1- Iran is a welfare state, basic goods are being subsidized, bread and butter are extremely inexpensive in there.

    2- Healthcare is for free, everybody can get a treatment.

    3- Gas, water, and electricity prices are very decent.
     
  15. Serpentine

    Serpentine INT'L MOD

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    Listening too much to Nutjobyahu speeches?
    If we Persians had not freed you 2500 years ago, there would be probably no Jews today.

    Cyrus the Great in the Bible - Wikipedia, the free encyclopedia

    It was a Persian King Cyrus the II who freed the Jews from what is now Egypt

    The 'Iranian Schindler' who saved Jews from the Nazis

    The man who freed the Jews...Cyrus the Great

    And now, instead of being appreciative, you are biting our hand?

    We have lived without oil and prospered in past 3,000 years , and you think we won't be able to do that again?