Iran announced on December 26 that it is not facing any problems in selling Iranian crude oil to non-governmental traders, Reuters reported.

Iran started exporting its crude oil to the private traders since October and could sell 3 million barrels soon.

“Those who bought oil on the bourse have been able to export and there have been no problems in this regard,” oil minister Bijan Zanganeh said without giving further details about the exports.

Despite US sanctions on Iran, Iran could sell 280,000 barrels of crude to private companies in October and 700,000 barrels in November.

“A buyer can choose to pay with hard currency or rials for the crude oil on the bourse,” Zanganeh added.

The details of the sales would be announced soon.

The US has granted eight Iranian oil importers temporary waivers from the sanctions set to be imposed upon the country’s energy sector on November 5.