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Turkey Continues To Purchase Oil From Iran

Turkey Continues To Purchase Oil From Iran 21.10.2019

Turkey Continues To Purchase Oil From Iran

Despite the U.S. sanctions, Turkey will continue to purchase oil and gas from Iran. Turkey and Iran set a goal to increase trade to 30 billion USD.

Turkey mostly depends on imports of energy and petroleum products from Iran. In 2019, Iran delivered more than 25 million tons of oil to Turkey. The two countries expected a significant increase in trade but due to the sanctions, they managed to keep the level of 12 billion USD a year.

The relations between the USA and Iran are becoming increasingly tense. Donald Trump continues to increase sanctions pressure on Iran. The country’s official oil export fell due to restrictions to 100 thousand barrels per day in July 2019.

In September, 2019, Trump announced the sanctions against the Central Bank of Iran. On September 25, 2019, it was also announced that the United States imposed sanctions against companies and individuals from China in connection with the transportation of Iranian oil.

The Turkish Foreign Minister M. Chavushoglu said that Turkey rejected unilateral sanctions, and this decision won’t promote to the regional peace and stability. At the same time, the Turkish leader said he was not afraid of Washington’s possible sanctions on Ankara because of the purchase of Iranian oil.

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