Iran sends oil to Europe

Iran has sent its first shipment of oil to Europe after sanctions were lifted following an international nuclear deal. The deal restricted Iran’s nuclear ambitions in exchange for a pass on existing international sanctions.

The country’s current production rate is 3.1-million barrels per day however Iran plans to add another one million barrels as soon as possible. Deputy Oil Minister Rokneddin Javadi said Iran has already reached an agreement to ship oil to France, Spain, and Russia.

(Written by: N. Reitmayer; Original information source: Calgary Herald