$2.1 billion annual loss in the sale of Iran’s oil to Europe

Regime-run newspaper Sarmayeh wrote: Based on to official numbers from the bureau of statistics and economic studies of Bank Markazi (Iran’s central bank) during the years 2002 to 2005 crude oil exports to Europe with an increase of 239%, went from 350,000 barrels per day to 837,000 barrels per day. This is While the Iranian crude oil exports to other regions of the world during the past four years has gone from 340,000 barrels to zero and in reality the market for crude oil in Iran during this period became more limited.
A $6 loss per barrel of oil sales to Europe

Ali Sadeghi, an expert on oil and energy exports explained: “The increase of the export of Iran’s crude oil to Europe is more with the aim of political procurements and the reinforcement of protection on both sides; in fact, petroleum nourishes bilateral economic motives. Currently 40% of Iran’s oil is sold to Europe and this is for the sake of the upkeep of the market, as Iran is attempting to preserve Europe’s market to itself. In some cases the price of the crude oil sold to Europe is less than the sale price to the far east. By selling oil to Europe we attempt to maintain the 6.4 million-barrels in Rotterdam, Holland.”