Iran signs contracts with major European companies for crude sale

Iran has signed contracts with major European companies for the sale of crude oil, five months after the implementation of the last year’s nuclear agreement between Tehran and six global powers, a senior Iranian official says. 

“Iran has signed agreements for the sale of crude oil with some companies from Italy (Saras and Iplom), Spain (Repsol) and Greece (Hellenic Petroleum), and negotiations with other major oil companies are underway for crude oil sale,” Mohsen Qamsari, the director for international affairs of National Iranian Oil Company (NIOC), said on Saturday, according to a report by Iran's official news agency, IRNA.

He added that Iran’s crude oil is currently being shipped to all these companies.

Iran and the five permanent members of the UN Security Council – the United States, France, Britain, China and Russia – plus Germany signed a nuclear agreement, known as the Joint Comprehensive Plan of Action (JCPOA), on July 14, 2015.