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Iran's oil exports have surged to their highest levels in six years, providing its economy with a $35 billion boost annually. Iran’s success in exporting crude underscores the difficulties facing the US and the EU as they seek to build up pressure on Tehran.“The Iranians have mastered the art of sanctions circumvention,” said Fernando Ferreira, head of the geopolitical risk service at the Rapidan Energy Group. In Tehran, the Tasnim News Agency said on Wednesday that the country’s oil industry had found ways to get around sanctions. Iran’s Oil Minister Javad Oji said that while Iran’s enemies wanted to stop its exports, “today, we can export oil anywhere we want, and with minimal discounts”. With an increase of 630,000 barrels in oil production over the past year, Iran had the highest production rise among OPEC members, according to the U.S. Energy Information Administration (EIA). This has allowed Iran to maintain its position as OPEC’s third-largest oil producer, highlighting the failure of western powers to inflict significant damage on Iran and its oil market. Iran’s increased oil revenues are expected to support the country’s economic resilience and could potentially influence its geopolitical leverage in the region​.

Iran Oil Exports Hit Six-Year High

Iran’s oil exports have surged to their highest levels in six years, providing its economy with a $35 billion boost annually. Iran’s success in exporting crude underscores the difficulties facing the US and the EU as they seek to build up pressure on Tehran.“The Iranians have mastered the art of sanctions circumvention,” said Fernando Ferreira, head of the geopolitical risk service at the Rapidan Energy Group. In Tehran, the Tasnim News Agency said on Wednesday that the country’s oil industry had found ways to get around sanctions. Iran’s Oil Minister Javad Oji said that while Iran’s enemies wanted to stop its exports, “today, we can export oil anywhere we want, and with minimal discounts”. With an increase of 630,000 barrels in oil production over the past year, Iran had the highest production rise among OPEC members, according to the U.S. Energy Information Administration (EIA). This has allowed Iran to maintain its position as OPEC’s third-largest oil producer, highlighting the failure of western powers to inflict significant damage on Iran and its oil market. Iran’s increased oil revenues are expected to support the country’s economic resilience and could potentially influence its geopolitical leverage in the region​.

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