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Iran's Oil Exports
By Micah Halpern

Sunday October 6, 2019

I've Been Thinking:

On Sunday Iran's oil ministry website posted a statement by Oil Minister Bijan Zanganeh. The Iranian oil minister said that Iran will go to any length to export its oil and that it is their right do so.

Zanganeh said: "We will use every possible way to export our oil and we will not succumb to America's pressure because exporting oil is Iran's legitimate right."

He is correct on both counts.

Iran is going to great lengths to export their oil. And exporting their oil is their legitimate right.

US sanctions are on buying Iranian oil - not on Iran exporting their most significant natural resource, which happens to be oil.

Iran is not violating either international law or US sanctions by finding ways to export oil. Rather, it is the purchasers of that oil and the middle-men facilitating the purchases who are violating sanctions.

The most powerful and influential countries helping Iran are China and Russia. India is also getting oil from Iran -- but far less than China and Russia.

To get the oil, ships are turning off the tracking devices on their oil tankers and using pipelines to avoid being monitored by the United States. The problem with turning off transponders is that pirates have not lowered their profile since these tensions with Iran have surfaced and the tankers are making their job of boarding and taking over ships easier.

Turning off tracking devices can be extremely dangerous.

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7 October 2019 09:05 AM in Thoughts

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