Rosneft CEO says US main beneficiary of anti-Iran sanctions

VERONA, Italy, Oct 24 (PRIME) -- The U.S. has become the main beneficiary of sanctions against Iran as its oil shipments to Europe more than doubled in 2018, CEO of Russian oil company Rosneft Igor Sechin said at the Eurasian Economic Forum on Thursday.

“The U.S. raised its oil supplies to the E.U. 2.5 times in 2018, to 23 million tonnes from 9 million tonnes. It became the main beneficiary of the sanctions restrictions on the European market,” Sechin said.

Oil imports from Iran fell 32.3% in 2018 and continue to decline in 2019, the CEO said.

“Although the number of the working drilling rigs in the U.S. fell by 20%, the U.S. shale oil production is demonstrating stable growth due to the well-coordinated activities of producing firms, infrastructure, service companies and research and development organizations,” Sechin said.

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