Here Iran stores its oil

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But in May 2018, Trump announced the agreement that was signed in 2015, which provided for a relaxation of sanctions against Iran when the country is repatriating its nuclear program. Anyone who has been buying Iranian oil since then risks, among other things, not being allowed to handle any further financial transactions in the USA in the future. So it is becoming increasingly difficult for Iran to sell the oil.

An end to the sanctions is currently not in sight. Iran is therefore planning to increase its storage capacity on land and sea from the current 69.1 million barrels to 79.9 million barrels, according to media reports.

LiveEO is a participation of DvH Ventures. Handelsblatt Media Group, to which WirtschaftsWoche belongs, is part of DvH Medien, which also owns DvH Ventures.

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