Iran starts oil sales to private exporters to beat approaching US sanctions

Iran began selling crude oil to private companies for export on Sunday, part of a strategy to counter US sanctions which come into effect on November 4 and aim to stop the country's key crude exports, the oil ministry's news website SHANA reported.   Crude oil trade is state-controlled in Iran.

Earlier, private refining companies could only buy crude oil for exports of oil products, officials have said. ALSO READ: Ahead of US sanctions, India places November crude orders with Iran Out of 1 million.

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