Head of the Iranian Oil, Gas and Petrochemical Products Exporters Union Hassan Khosrowjerdi said on Saturday that the private consortium would sell 20 percent of the country’s total crude exports to international markets according to an agreement with the Central Bank of Iran (CBI) and the Oil Ministry.Khosrowjerdi said Iran has reached agreements with European refiners to continue selling its oil through the private consortium.
“The first contract for exporting Iran's crude by the private sector will be signed this week,” Khosrowjerdi told the Mehr News Agency.
On January 23, the European Union foreign ministers approved new sanctions against Tehran. The sanctions are meant to prevent member states from buying Iranian crude or doing business with its central bank.
The European Union also imposed a ban on the sale of diamonds and gold, other precious metals to Iran.
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