“The reality is… [that] the effect of the US sanctions on Tehran is a grand total of nada,” Pakistan Today wrote in a commentary on Sunday.
“It is being observed that Tehran is having no problem in selling its oil and that the crude export is on the rise, which is paving way for a currency influx,” the paper wrote.
It added that Iran has countered any action aimed at hindering its crude oil exports. “The primary reason why Iran has managed to, and continues to, dodge the sanctions bullet is because it has found numerous ways to insure its crude oil tankers to the Asian countries which has meant that the nation has forestalled any legal maneuvers that could potentially throw a decisive spanner into the oil works.”
The commentary went on to say that the United States has had to exempt its allies South Korea and Japan from Iran’s oil bans as these countries have had “trouble filling in the oil void.”
The paper also said Iran’s main oil buyers - China, India, Japan and South Korea - have shrugged off US pressure to seek other suppliers than Iran. “No heed is being paid, or damn being given, so to speak with regards to these sanctions - probably since ‘other suppliers’ of similar mould and volume don’t exactly exist, now do they?”
On Sept 17, Iran’s Oil Minister Rostam Qasemi said the country’s oil industry is the main force against foreign sanctions which has defeated enemies’ efforts to isolate Iran in the world.
Under pressure from the United States, the EU foreign ministers approved new sanctions against Iran's oil and financial sectors last January.
The sanctions, which prevent the EU member states from purchasing Iran's oil or extending insurance coverage for tankers carrying Iranian crude, came into effect on July 1.
On August 1, the US Congress approved more illegal embargoes against Tehran, which seek to punish banks, insurance companies, and shippers that help Tehran sell its oil.
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