Iran, November 12, 2017 - Iran's state-run Fars news agency, affiliated to IRGC, reported a 39% reduction in Iranian oil export to Europe blaming the US for the fall in the country's oil export. The report says, “Iran's oil sales to Europe have fallen because of the U.S. threats, which has made the Europeans plan to reduce their purchases of oil from Iran despite the nuclear agreement with, known as Joint Comprehensive Plan of Action, or JCPOA.
Iran's total crude oil and condensate exports in October will drop by about a fifth to a month earlier this month, reaching the lowest figure in the past 19 months, according to international news agencies.
Iran's exports to Europe this month are expected to drop by 39% from a month earlier from 837,000 barrels to 510,000 barrels a day.
Italy, Spain, Turkey and other countries will cut 28, 77, 65 and 25 percent of their purchases of oil from Iran, respectively.