January 14, The Iran Project – Although US imposed economic sanctions against  Iran, trying to bring the country's oil exports to the lowest point, with the signing of Iran's nuclear deal  and the subsequent removal of sanctions, the country once again reclaimed its level of exports and regained market share from competitors.

As a result of the EU embargo and the US sanctions Iran's oil exports had fallen to a meager 1 million barrels per day, but after Iran’s diplomatic victory in the nuclear talks with the P5+1 and the implementation of JCPOA, Iran could powerfully return to the world oil market.

During the sanctions era, countries like Saudi Arabia, Iraq, Nigeria and Russia captured Iran's share in global markets, but after the removal of sanctions, Iran could recapture its lost market share.

It is worth mentioning that Iran could not only regain market share from competitors, but it could also discussed  a long-term deal to sell crude oil to Poland -  what could widen the list of the country’s European oil clients once finalized.

Reportedly, in November, Iran’s oil export to European countries, like France, Spain, Greece, Italy, Poland, Romania and the Netherlands, reached 700,000 barrels per day.

Moreover, despite extensive foreign political and economic pressures, and the sabotage of the Saudi regime and its allies, Iranian government, taking wise measures, could bring its oil production and export to pre-sanctions levels in less than four months.

Lifting of international sanctions also affected Iran’s oil revenues so that the country’s export of oil and gas condensate recently amounted to 2 million and 900 thousand barrels per day.

Iran and the five permanent members of the United Nations Security Council -- the United States, France, Britain, Russia and China -- plus Germany started implementing the Joint Comprehensive Plan of Action (JCPOA) on January 16, 2016.

Under the nuclear deal, Iran undertook to put limitations on its nuclear program in exchange for the removal of nuclear-related sanctions imposed against Tehran.