Last year the main consumers of Iranian oil, such as China, India, Japan and South Korea, decreased their import from Iran by 15% to 935,068 barrels a day. Before introduction of sanctions against Iran in 2013, this country exported approximately 2.2 million barrels a day and Tehran could lose up to $46 billion from reduction of deliveries.
In 2013 China reduced Iranian oil import by 2.2% to 428,084 barrels. Import of Iranian oil to India went down by 38% to 195,600 barrels a day. South Korea’s demand in Iranian oil decreased by 14.3% to 134,000 barrels, Japan’s – by 6.4% to 177,041 barrels a day - a minimum since 1981.
The relationships between the western countries and Iran have improved after achievement of a temporary agreement on the Iranian nuclear program in November 2013. But despite that experts doubt that Iran will be able to restore export within a short period, because of lack of a final agreement on the Iranian nuclear program, http://angi.ru.--0--
Economics
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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Global diesel prices and refining margins have spiked following the latest U.S. sanctions targeting Russian oil trade, as markets brace for reduced supply, analysts and LSEG data indicate.
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Azerbaijani President Ilham Aliyev hosted Georgian Prime Minister Irakli Kobakhidze on Friday for high-level talks aimed at further developing the strategic partnership between the two neighboring countries in the South Caucasus.
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