Turkey increases oil imports from Iran in post-JCPOA era

EghtesadOnline: Turkey as a European customer of Iran's oil in sanctions era, increased its oil imports after the implementation of the nuclear deal known as Joint Comprehensive Plan of Action (JCPOA).

News ID: ۷۷۳۴۹۵

25 January 2017

The average of Turkey's imports reached 126,000 bpd from the beginning of 2016 until the end of Nov.

Turkey purchasing 60,000 to 100,000 barrels of oil per day was one of the few buyers of Iran's oil in sanctions era, IRNA reported.

After the implementation of the JCPOA and lifting sanctions against Iran, oil exports were resumed to both European and traditional buyers.

In addition to Turkey, new countries have been added to Iran's oil buyers' list so that the average daily exports to Europe reached 710,000 barrels in November, 2016.

France, Spain, Greece, Italy, Poland, Turkey, Romania and the Netherlands were the main customers of Iran oil in November, 2016, according to the reports.

The nuclear deal between Iran and six world powers was signed in 2015 and came into effect in January 2016. The six world powers were committed to lifting sanctions against Iran and the country in turn agreed to limit some of its nuclear programs in certain areas.