Iran Having a Hard Time Finding Buyers for its Oil

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The Financial Times reports that Iran is pricing its oil to move:

Iran is trying to skirt US and European sanctions by luring nations to buy its oil on highly advantageous credit terms, say officials in the industry.

Tehran has been offering a handful of potential customers in Asia, including India, 180 days of free credit, according to the officials….Iran’s offer of longer payment periods amounts to a discount of about 7.5 per cent per $118 barrel. Saudi Arabia and other leading Middle East oil producers extend 30 days of credit, and Tehran in the past has allowed importers such as China to pay in 60 to 90 days.

So Iran is now reduced to about the same level as a used car dealer. Drive it off the lot, no payments for six months! Apparently the Apologizer-in-Chief’s sanctions are starting to bite.

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You just sent an incredible message: that quality journalism doesn't have to answer to advertisers, billionaires, or hedge funds; that newsrooms can eke out an existence thanks primarily to the generosity of its readers. That's so powerful. Especially during what's been called a "media extinction event" when those looking to make a profit from the news pull back, the Mother Jones community steps in.

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