LNG

  • Iran’s Strategy to Tackle Sanctions: Pre-selling Oil

    Iran’s vice president, Eshaq Jahangiri, announced July 8 that any powerful country that is willing to work with Iran can pre-purchase Iranian oil. Iran is actively trying to convince its traditional costumers to purchase its oil for future deliveries in return for investment, goods or services in advance. Pre-selling oil is designed to get around US sanctions while building leverage for Iran in the short and long-term.

    This method can help Iran access the credit it needs for investment, goods and services. It could also be used as a floating credit in INSTEX, the trading vehicle set up by the European Union (EU) to keep Iran in compliance with the Joint Comprehensive Plan of Action (JCPOA). EU countries have all halted their oil

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