Large multinational oil companies profit from Iran sanctions

Recently, the British "Guardian" reported after observing Iran's oil export data. Since March of this year, the harsher sanctions imposed on Iran by President Barack Obama have not hindered Iran's oil trade. Instead, they let some Large oil companies profit from it.

Iran’s main fiscal revenue comes from oil exports, and oil exports account for 80% of all Iran’s foreign trade. The United Nations, the United States, and the European Union have attempted to destroy the Iranian economy through stricter sanctions.

Although, companies such as BP and India’s Reliance Industries Group suspended their oil imports from Iran. However, The Guardian stated that European oil giants such as Shell, Total and API have all increased their purchases of Iranian oil. This situation can only show that although the international community wants Iran to abandon the development of nuclear energy and the sanctions it adopts are becoming more and more complex, large-scale international oil companies always put priority on profit-making, not The political preferences of Western countries.

In addition to U.S. companies, the import of Iranian oil by other countries is still legal. The reduction in the demand for American companies provides opportunities for companies in other countries. Many of Iran’s oil was hoarded in Egypt’s Sidi Kiril by pipelines. Many oil companies did not dare to buy because of fear of sanctions, and the three powerful companies such as Shell, Total, and API said: “Well, let us Come buy it!"

On June 9 this year, the United Nations passed the fourth sanctions program against Iran. In the previous two months, Shell’s trading company, Satsco, spent US$778 million on Iran’s crude oil trade. Within two months after the sanctions were imposed, the company’s trade volume with Iran’s crude oil rose to 123.8. One hundred million U.S. dollars. And the terms of the deal are more conducive to Satsco.

According to Manuchecher Taki, the London-based oil analysis agency Global Energy Analysis Center, “A lot of companies are more ambitious. They think that when the competition is relatively small, they can get better terms of the deal, although there is politics. The risk, but the evaluation of these companies is that the U.S. sanctions against Iran are not worthy of their decision to withdraw from Iran." Another oil industry analyst said: "Because the sanctions are carried out through monitoring of the banking system, the economy The stronger companies are more emboldened to do business with Iran. It can be said that the sanctions have made these large oil companies successful."

Former British ambassador to Iran Sir Richard Dalton said: "The world economy cannot be separated from Iran, an oil-producing country." He also said: "The sanctions are not a coercive measure. It is only a signal to warn that if Iran continues, Its nuclear pursuit is that Iran’s economic outlook will be worse than it is now. But big companies still trade oil with Iran. The ultimate victims of this sanctions will be ordinary people.”