Will selling Iranian oil under the flags of other countries / Vienna talks bring Iran back to the oil market?

According to TradeNews , the first round of Vienna talks in the 13th government will begin in a few hours. The talks begin as sanctions have led Iran to export Iranian oil in the name of other countries or in conjunction with other countries' oil.

"If Borjam is revived, it will have a more positive effect on the Iranian oil market than anything else," Hamid Hosseini, president of the Bitumen and Petroleum Exporters Union, told Tejaratnews.

Oil sanctions do not allow the direct sale of oil to Iran, and the head of the Energy Commission of the Tehran Chamber of Commerce had previously stated that Iran was informally selling 700,000 barrels of oil per day.

"Informal sales mean we have to sell oil with petroleum products or mixed with other countries' oil," Hosseini recalls. Sometimes we even sell oil in the name of other countries. Of course, this statistic is not announced in customs. Reuters also announced some time ago that Iranian oil will be exported to China in the name of Oman, United States and Malaysia.

Impact of Borjam on oil revenues

But what effect does the increase in the country's oil sales have on the financial markets? Hosseini likens the currency that returns to the country from oil exports to rain on dry land and explains: In the current situation of the country, this inflow of oil revenues can calm and stabilize the situation. With the revival of Borjam, both the blocked money from the sale of oil will be released and the oil revenues will increase.

Iran's blocked assets are estimated at $ 100 billion to $ 120 billion, according to Business Insider and the Los Angeles Times.

Hosseini continues: In this case, the government budget deficit may be compensated. This year, the government had projected to generate 390,000 billion dollars in oil sales, but this revenue did not materialize.

The shortage of oil in the market caused the United States, India and Japan to enter the market with a total surplus of 300 million barrels.

Hamid Hosseini states: Now is the only opportunity we can return to the market. The market is now thirsty and short of oil. Then we can revitalize our oil and gas projects.

"Many of our oil projects have not been launched due to lack of budget and technology or equipment," said the president of the Association of Exporters of Bitumen and Petroleum Products.

Hosseini predicts: If an agreement is reached in Borjam, the dollar may reach 4,000 and 5,000 tomans. Due to high inflation and other problems after that, inflation and other problems cause the currency to enter the uptrend channel.