Head of Petroleum Products Exporters' Union: We have to give discounts to limited buyers of our oil in order to keep customers

Hamid Hosseini, head of Bitumen and Petroleum Products Exporters Union:

Iran approves oil discount to China Iran has to give oil discount to its customers. It seems that the American sanctions are so rigid that countries are not willing to take the risk of doing business with Iran.

Due to the existence of sanctions, Iran has to apply discounts so that buying oil from Iran remains attractive for customers and buyers are willing to accept the risk of sanctions. But the more interesting point is that, according to Reuters, Iranian oil is exported to China under the name of Oman oil, United Arab Emirates and Malaysia. In other words, Iran gives a discount of about 5 to 6 dollars per barrel for bypassing the sanctions and selling more oil. But does Iran only give oil discounts to China?