Iranian oil exports soared in January, hitting new highs just months after the United States consented to billions of dollars in economic sanctions relief under the interim nuclear deal.
Exports of Iranian crude oil jumped to 1.32 million barrels, up from December’s high of 1.06 million barrels, according to data from the International Energy Agency.
The spike in exports—mainly to Japan, China, and India—has helped Iran’s once-ailing economy stabilize and decrease inflation.
Iranian oil exports have steadily risen since negotiations with the West restored confidence in Tehran’s economy. The increase runs counter to a promise by the Obama administration that “Iran’s oil exports will remain steady at their current level of around 1 million barrels per day.”
The significant rise in oil exports has led some experts to accuse the Obama administration of misleading the public about the amount of sanctions relief provided under the interim nuclear deal.
While the White House said Iran would receive no more than $7 billion in relief, these experts say that the rise in oil exports and other economic spikes will give Iran “well more than $20 billion.”
http://freebeacon.com/iranian-oil-exports-soar-under-sanctions-collapse/
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