BRICS: 2 New Countries Start Buying Oil From Iran, Ditch the US
BRICS member Iran is finding new countries to sell its oil and giving the US a run for its money. Iran’s oil production has now hit its highest since 2018 allowing it to export the commodity to new countries. Despite the US sanctions, Iran is looking to boost its economy through exports with the help of new countries. Also Read: BRICS: The US Dollar Might Not Remain Universal Currency The two new countries that have agreed to buy oil from Iran are non-BRICS nations. Since the US has placed sanctions on Iran, chances are high that the trade could be settled in local currencies. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. BRICS: Iran Finds 2 New Countries To Export Oil, Bypass US Sanctions Source: TehranTimes The two new countries that will start buying oil from BRICS member Iran are Bangladesh and Oman, Reuters reported. Iran’s crude oil production averaged 3.22 million barrels per day (bpd) in July 2024. This is the highest ...