Iran’s ‘Oil on Water’ Sales Double Amid Sanctions Reprieve

Mahmoud Naboyan, a member of parliament and a member of the Islamic Republic’s delegation to Pakistan, said: “During the war, our oil sales increased significantly; we have now sold all the oil on the water at twice the price, and now we do not have a single drop of oil on the water.” This comes at a time when the US Treasury Department announced that it has extended the sanctions exemption for oil on the water belonging to Russia and Iran for 30 days due to a request from about 10 countries vulnerable to oil shortages due to the closure of the Strait of Hormuz.