Iran Lost $2 billion In Oil Revenues Since May
- 6 years ago
According to Reuters, Iran has lost an estimated $2 billion in oil revenue since May.
That figure coincides with US President Donald Trump's announcement to impose sanctions against Iranian oil exports.
Those sanctions went into affect on Nov. 5th.
Brian Hook, the US Special Representative for Iran, said that Iranian production dropped by 1 million barrels since since May.
Hook said that taking those barrels off the market reduced oil revenues by more than $2 billion for Iran.
He added that about 20 countries have stopped importing Iranian oil ahead of the sanctions.
That figure coincides with US President Donald Trump's announcement to impose sanctions against Iranian oil exports.
Those sanctions went into affect on Nov. 5th.
Brian Hook, the US Special Representative for Iran, said that Iranian production dropped by 1 million barrels since since May.
Hook said that taking those barrels off the market reduced oil revenues by more than $2 billion for Iran.
He added that about 20 countries have stopped importing Iranian oil ahead of the sanctions.