Iran's oil exports up by 100% in 2011

Recent media reports said that Iran's 2011 petrol exports hit over $134,000,000. Different countries, including Armenia, Afghanistan, the UAE, Iraq and Oman were target markets for Iran's petrol in 2011. Iran's export of petrol to Afghanistan hits $51.6 million which holds the biggest portion. The UAE's import reached $46.6 m, Iraq's portion hit $27.1 million and Oman's share totaled $6.6 million. The news came after India increased oil imports from Iran to become the Islamic Republic's largest customer in January, ignoring recent sanctions imposed by US and EU on importing Iran's oil. The development, the Wall Street Journal report said, has partly offset a 50 percent cut in crude exports to China as a result of pricing dispute. China now imports around 250,000 barrels a day from Iran. The news comes despite the West's rising pressure on Iran to halt its peaceful nuclear program. On the New Year's Eve, the United States imposed new sanctions against Iran aimed at preventing other countries from importing Iran's oil and doing transactions with its central bank. After months of debates, the EU member states also eventually reached an agreement in their meeting on January 23 to sanction oil imports from Iran and freeze the assets of Iran's Central Bank within the EU.