Iran Oil Exports Seen Rising by IEA Even as Sanctions Widen

Iranian oil shipments advanced 13 percent last month even as the U.S. implemented new sanctions against the Persian Gulf country, according to the International Energy Agency.

Imports from Iran rose to 1.28 million barrels a day in February from 1.13 million barrels in January, the Paris-based adviser to 28 oil-consuming nations said in a report today. U.S. rules took effect last month that require importers to pay in local currencies kept in escrow accounts, the agency said.