Iran’s oil exports are falling to a record level .. And Tehran follows the program “oil for food.”

Kayhan London newspaper revealed., “The proportion of oil exports to Iran reached almost 200 thousand barrels per day as a result of international sanctions imposed on the Iranian oil sector.

The newspaper said that the proportion of Iran’s oil exports during this specific period from mid-June to the end amounted to about 200 thousand barrels per day, because of sanctions to ban the export of Tehran’s oil

The report pointed out that the Iranian oil buyers at the current stage are Chinese and Russian companies, where they buy quantities of oil through intermediaries and brokers of the Iranian government authorities at prices lower than the global energy market.

Iran does not receive any money for these oil exports, but replace them with goods and food, while a few brokers get money for commission brokerage to complete the sale of oil shipments, according to “Kayhan. London.”

The Russian Energy Minister, Alexander Novak said that Iran is preparing to buy agricultural products from Russia in return for oil shipments, where he stressed to discuss with Tehran on the program “oil for food.”

Iran’s exports of oil products before the sanctions amounted to 2.5 million barrels of oil per day, while this exports dropped significantly to less than 300 thousand barrels per day, according to a report published by the agency “Reuters” on 24 June 2019

Iranian oil is witnessing an unprecedented decline in the rate of production and exports, especially after the United States imposed a package of sanctions on several economic sectors of Tehran to prevent Iran from supporting terrorism in the region.