Iran has opened its first oil terminal in the Gulf of Oman, Iranian President Hassan Rouhani said on Thursday, to allow Iranian tankers to avoid using the strategically vulnerable Strait of Hormuz, which has been a focus of regional tension for decades.
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"This is a strategic move and an important step for Iran. It will secure the continuation of our oil exports," Rouhani said in a televised speech. "This new crude export terminal shows the failure of Washington's sanctions on Iran."
Rouhani said Iran aimed to export 1 million barrels per day (bpd) of oil from Bandar-e Jask, a port on Iran's Gulf of Oman coast, just south of the Strait of Hormuz.
"The implementation of the Goreh-Jask port crude oil transfer project took place with about $2 billion investment," Iran's Oil Minister Bijan Zanganeh said, according to the ministry's SHANA website.
