Iran: From Oil Fields to Battlefields; A Country that Turned Sanctions into Power
WANA (August 12) – In recent years, Iran has successfully strengthened its role as one of the independent players in the global oil and energy sector. By relying on domestic capabilities and devising innovative strategies, the country has managed to overcome Western economic pressures and achieve significant success in oil exports.
Since the U.S. withdrawal from the JCPOA in 2018 and the imposition of heavy sanctions against Iran, the country’s economy has faced major challenges. These sanctions particularly targeted Iran’s oil industry, aiming to drastically reduce its oil revenues and exert pressure on the economy.
However, Iran has been able to navigate through this crisis by employing creative approaches and economic flexibility, even achieving new successes.
According to statistics released by credible international sources, Iran’s oil production and exports averaged around 3 million barrels per day in 2023, nearing the levels seen before the sanctions. Additionally, reports from Reuters and The Wall Street Journal indicate that Iran has managed to establish new markets for its oil exports.
For example, countries like Oman, Bangladesh, and even some European nations such as Bulgaria and Poland have emerged as new customers for Iranian oil.
20.3% growth in Iran’s oil sector
WANA (June 17) — 20.3% growth of the oil sector of Iran in 2023 – 2024. Over the past year, the oil sector has seen a remarkable growth of 20.3%. This growth can be attributed to a combination of factors, including increased production, favorable global oil prices, and successful export strategies. As a result, the […]
Reports also suggest that Iran’s oil exports to Asian countries like China and India have significantly increased. In fact, China has become one of Iran’s largest oil buyers, with exports averaging 1 million barrels per day. India, too, has played a key role in expanding Iran’s export markets by increasing its oil purchases from the country.
These achievements are not limited to the energy sector alone. By focusing on the development of downstream industries such as petrochemicals, Iran has successfully added more value to its raw materials and increased its non-oil revenues. For instance, according to official reports, Iran’s petrochemical exports in 2023 exceeded $14 billion, indicating significant growth in this sector.
Moreover, Iran has diversified its economy by expanding economic relations with countries not influenced by Western pressures. Growing cooperation with major Asian powers like China and India, and even entering new markets in Southeast Asia, has created a new balance in Iran’s economic relations.
This cooperation has not only allowed Iran to circumvent sanctions but also enabled the country to diversify its economy significantly.
Iranian missiles are displayed during Iran’s defence achievements exhibition in Tehran, Iran, August 22, 2023. Iran’s Presidency/WANA (West Asia News Agency)
Iran has also made remarkable progress in other areas such as technology, agriculture, and defense.
These achievements have not only strengthened the domestic economy but have also helped Iran to solidify its position on the international stage. For example, in missile and defense technology, Iran has reached a level where it can ensure its national security and emerge as an independent regional power.
By utilizing innovative strategies and smartly leveraging its domestic resources, Iran has managed to shape a future where it can continue on its path with greater confidence.
The country, drawing on these achievements, has cemented its position as an independent and powerful player on the international stage.
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