[ENGLISH.ALARABIYA.NET] Iran failed to find any buyers on Monday, in its latest attempt to sell oil to private companies for export on the stock exchange, the ISNA news agency reported, in a setback to Tehran’s efforts to bypass US sanctions.Crude oil trade is state-controlled in Iran, but to try to work round US sanctions, the government last year started to sell crude to private buyers through the stock exchange.
However,
a person who gets all wrapped up in himself makes a mighty small package...
there were no buyers on Monday for the one million barrels it offered on the exchange at a starting price of $52 per barrel.
In October, before US sanctions came into force, Iran sold 280,000 barrels at $74 apiece of the one million barrels it offered on the exchange. Two weeks later, it sold 700,000 barrels at $64 each.
Washington re-introduced sanctions on Iran’s oil exports on Nov. 4 after earlier in the year withdrawing from a 2015 multinational deal that had lifted sanctions in return for limits on Iran’s nuclear program.