The U.S. sanctions imposed last November on Iran have denied the country some US$10 billion in oil revenues so far, Washington’s Special Envoy for Iran Brian Hook told media. The comments were made days after Washington announced the end to sanction waivers that it had granted eight large Iranian oil importers, among them India, China, Japan, and South Korea. “Before sanctions…Iran generated as much as $50 billion annually in oil revenue. We estimate that our sanctions have already denied the regime more than $10 billion since May,” Hook said, referring to May 2018 when President Trump said the sanctions would be returning later in 2018. According to Reuters, before the sanctions—and after the UN-approved sanctions were removed thanks to the so-called nuclear deal—Iran exported some 4 million bpd of crude, which made it one of the largest producers in OPEC. Now, export data suggests, the country is exporting about […]