Amid U.S. Sanctions, Iran Steps Up Oil Exports

A picture shows phase 5 of South Pars gas field development in the southern Iranian port town of Asaluyeh on July 19, 2010 as a top official announced that global energy majors are welcome to help develop oil and gas projects in Iran despite new sanctions imposed on the Islamic republic.  (National Journal)

Despite crippling U.S. sanctions, Iran is attempting to increase oil exports to countries that include China, India, and Japan, The Washington Post reports.

China, India, and Japan have all received waivers under the sanctions, which were put in place to dissuade Iran from developing a nuclear-weapons program, and the three countries have purchased increasingly more oil from the beleaguered nation in recent months.

Data from the International Energy Agency indicates that Iran saw an increase in oil exports of 180,000 barrels a day in September. However, Iran is still exporting far less oil than it was before the sanctions began.