European Union Cannot Find Replacement for Iran’s Oil

European Union Cannot Find Replacement for Iran's Oil

Mohsen Rezaei said European Union will face major problems in order to find replacement for Iran’s oil.

“Europeans think they can find replacement for Iran’s crude oil easily, but they will definitely fail. Also another group of them believes they can import Iran’s crude oil via black market and using third parties.” Mohsen Rezaei told reporters.

“Sanctions against Iran oil may continue in future, so we have to accept this fact and we should find solutions for that.” Secretary of Iran’s Expediency Council, Mohsen Rezaei, said about the current sanctions.

Iran pumps light crude oil and a large number of refineries in European Union can only process light crude oil. There are a few countries which can produce light oil, so this may somehow annoy European refineries in future. Light crude oil is liquid petroleum that has a low density and flows freely at room temperature. It has a low viscosity, low specific gravity and high API gravity due to the presence of a high proportion of light hydrocarbon fractions. It generally has low wax content. Light crude oil receives a higher price than heavy crude oil on commodity markets because it produces a higher percentage of gasoline and diesel fuel when converted into products by an oil refinery.




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