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Iran’s Oil Sales to Reach $5 Bn in 2020

A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Gulf, Iran, (File Photo: Reuters)
A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Gulf, Iran, (File Photo: Reuters)
    London, Tehran- Asharq Al-Awsat
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Iran’s Oil Sales to Reach $5 Bn in 2020

A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Gulf, Iran, (File Photo: Reuters)
A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Gulf, Iran, (File Photo: Reuters)

Iran lost $115 billion in oil exports and non-oil revenues, and the country’s crude oil sales this year will reach five billion dollars at best, according to an Iranian economic official.

Iran’s total oil and non-oil exports will reach $35 billion this year, whereas its foreign currency expenditures amount to $50 billion annually, the chairman of Iran-China Chamber of Commerce, Majidreza Hariri, was quoted by ILNA news agency.

The official warned that his country will face a currency crisis for years if exports are not doubled, expressing concern that the income does not commensurate with spending.

Hariri indicated that statistics of the past six months show that export revenues will be $30 billion until the end of the year, noting that Iranian revenues had dropped to $10 billion, compared to $40 billion in the last year.

The Iranian official did not reveal the details of Iranian oil sales in light of the US sanctions that prevent Tehran from exporting oil.

Iranian Oil Minister Bijan Zangeneh had earlier refused to disclose details of oil exports as well.

Last June, Iran VP Eshaq Jahangiri said that his country's oil revenues fell from $100 billion to $8 billion last year.

Hariri believes that Iran will get between $35 and $40 billion at best, while foreign currency expenditures are $50 billion in the event of austerity.

He recommended reducing the government’s spending policy to be able to manage matters “in any way possible” until the end of the year.

The expert believes the government will not be able to do something under the sanctions, noting that political decisions in the country are taken by the regime. He warned that if the current situation persists, things will be more difficult in the coming year.

Last Saturday, Iranian President Hassan Rouhani said that Iran’s economy is in a better state than Germany’s, which was highly ridiculed on social media.

US President Donald Trump said last month he aims to bring Iranians back to the negotiating table due to the economic sanctions that brought Tehran on the brink of bankruptcy, indicating that the country’s GDP recorded negative growth of 24 percent.

Rouhani responded by saying the negative rate did not exceed 0.06 percent.

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12 Killed as Boat with Dozens of Migrants Rips Apart in English Channel off France

Firefighters handle the bodies of migrants who died trying to cross the Channel to England in Boulogne-sur-Mer, northern France on September 3, 2024. (AFP)
Firefighters handle the bodies of migrants who died trying to cross the Channel to England in Boulogne-sur-Mer, northern France on September 3, 2024. (AFP)
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12 Killed as Boat with Dozens of Migrants Rips Apart in English Channel off France

Firefighters handle the bodies of migrants who died trying to cross the Channel to England in Boulogne-sur-Mer, northern France on September 3, 2024. (AFP)
Firefighters handle the bodies of migrants who died trying to cross the Channel to England in Boulogne-sur-Mer, northern France on September 3, 2024. (AFP)

A boat carrying migrants ripped apart in the English Channel as they attempted to reach Britain from northern France on Tuesday, plunging dozens into the treacherous waterway and leaving 12 dead, authorities said.

Most of the victims were believed to be women, some under 18, and many of the passengers didn't have life preservers, officials said, with one calling it the deadliest migrant accident in the channel this year.

“Unfortunately, the bottom of the boat ripped open,” said Olivier Barbarin, mayor of Le Portel near Boulogne-sur-Mer, where a first aid post was set up to treat victims. “If people don’t know how to swim in the agitated waters ... it can go very quickly."

Europe’s increasingly strict asylum rules, growing xenophobia and hostile treatment of migrants have been pushing them north. Before Tuesday’s accident, at least 30 migrants had died or gone missing while trying to cross to the UK this year, according to the International Organization for Migration.

Rescuers pulled a total of 65 people from the English Channel on Tuesday in a search that lasted more than four hours, according to Lt. Etienne Baggio, a spokesman for the French agency that oversees the stretch of sea where the boat ripped apart. Doctors confirmed 12 died, he said.

Another 12 people were hospitalized, and two were in very serious conditions, authorities said.

Baggio called it the deadliest migrant boat tragedy in the English Channel this year. In July, four migrants died while attempting the crossing on an inflatable boat that capsized and punctured. Five others, including a child, died in another attempt in April. And five dead were recovered from the seas or found washed up along a beach after a migrant boat ran into difficulties in the dark and winter cold of January.

Many of those aboard the vessel that broke up in the English Channel on Tuesday didn't have life vests, Baggio said. It was not immediately clear what kind of boat it was. Three helicopters, a plane, two fishing boats and more than six other vessels were involved in the rescue operation.

In another sea tragedy Tuesday involving migrants seeking a better life in Europe, a boat carrying migrants capsized off the Libyan coast, leaving one person dead and 22 missing, Libyan authorities said.

The agency overseeing the rescue operation in the English Channel said the boat got into difficulty off Gris-Nez point between Boulogne-sur-Mer and the port of Calais further north. Sea temperatures off northern France were around 20 degrees C, or about 68 F.

Interior Minister Gerald Darmanin went to Boulogne-sur-Mer to meet those involved in handling what he described as the “terrible shipwreck.” He said the boat was frail and small -- less than 7 meters (23 feet) long -- and that smugglers are packing more and more people aboard such vessels. Most of the people on the boat were believed to be from Eritrea, and most of the victims were women, he said.

Last week, the leaders of France and Britain agreed to deepen cooperation on illegal migration in the channel.

UK Home Secretary Yvette Cooper called it “a horrifying and deeply tragic incident” and paid tribute to French rescuers “who undoubtedly saved many lives, but sadly could not save everyone.”

“The gangs behind this appalling and callous trade in human lives have been cramming more and more people onto increasingly unseaworthy dinghies, and sending them out into the Channel even in very poor weather,” she said.

“They do not care about anything but the profits they make, and that is why — as well as mourning the awful loss of life — the work to dismantle these dangerous and criminal smuggler gangs and to strengthen border security is so vital and must proceed apace.”

At least 2,109 migrants have tried to cross the English Channel on small boats in the past seven days, according to UK Home Office data updated Tuesday. The data includes people found in the channel or on arrival.