On Tuesday Iran said that they were starting to export domestically produced oil. This is strange as even though Iran is one of the worlds largest oil producers it has imported about 40% of its oil, because of its lack of refining capabilities, to fuel its country and its nuclear program. This was seen as a week spot to the U.S who tried to put sanctions on it to stop some of the trade in order to slow down the iranian nuclear program.
Because of these U.S sanctions and the dropping import of gasoline the Iranian government converted two plants into oil refineries and this increased the capabilities of the iranian government to refine crude oil. Ali Ashgar Arshi, the international affairs director at the National Iranian Oil Co. said "Iran has achieved self-sufficiency in production of gasoline." And by exporting oil it is a demonstration to the countries that have put sanctions on Iran by saying that they are now self efficient and stronger. Iranian officials privately acknowledge the sanctions are hurting the country's energy sector.
In my own opinion I believe that this is sort of a kick in the face of the countries which have put sanctions on Iran as they have become even stronger because of it.
http://online.wsj.com/article/SB10001424052748704791004575520072670809284.html?mod=WSJ_Energy_leftHeadlines
-Ryan Parker
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