Fire Sale: Iran to Sell Discounted Oil, Gas to Chi-Coms Amid U.S Sanctions – Reports

August 13, 2018

Iran is offering its oil and gas at reduced prices to the  Chinese Communists ahead of the U.S sanctions that are due to take effect in November, Iranian state news agency IRNA reported, citing a source within the country's Ministry of Petroleum.


IRNA's publication comes three days after Bloomberg reported, citing an official, that the state-run National Iranian Oil Company had lowered prices for September oil sales to Asia to the lowest level in 14 years in comparison to the price of Saudi Arabian oil.


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