Iran boasts of sanctions relief on oil sector

Jan. 27, 2014 at 8:39 AM

TEHRAN, Jan. 27 (UPI) -- Sanctions relief in the wake of an interim nuclear deal clears the way for Iran to start exporting crude oil to more consumers, an Iranian executive said.

Ali Akbar Safaei, director of the National Iranian Tanker Co., told Shana, Iran's official oil news website, his company and the National Iranian Oil Co. were free from some U.S. sanctions.

Some Western governments agreed to suspend sanctions on Iran for the duration of a six-month interim deal that calls on Iran to curb some of its nuclear activity. Safaei said the sanctions relief means Iran has leeway to export crude oil to China, India, Turkey, Taiwan, Japan and South Korea.

"This [sanctions] relief is a green light for NITC but we expect the immediate return of NITC to international oil transportation markets besides these six countries," he was quoted as saying Sunday.

There was no formal announcement on sanctions relief from the U.S. Treasury Department. It said Jan. 20 the White House decided to "pause" efforts to curtail Iran's crude oil exports so its customers could continue purchasing Iranian oil at reduced levels for the duration of the interim nuclear deal.

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