Iran Energy Exchange Is a Stopgap Solution

Oil has always been a function of the international market, so setting up local energy markets cannot help the National Iranian Oil Company sell crude on a long-term basis, a veteran financial expert said.
“The Energy Bourse should have been established 20 years ago to deliver now. Financial instruments like the Iran Energy Exchange (IRENEX) are no miracle makers,” Hossein Abdoh Tabrizi was quoted as saying by ILNA.
Those in charge should have introduced oil and its byproducts to overseas markets long before the US sanctions started taking a toll, he said, echoing the near permanent position of top economic experts and opinion-makers that critical decisions in Tehran are made very late and at high cost to the national economy.