Lifting sanctions from Iran is in the process of affecting the world market. After having a nuclear deal, Iran concerns to export more oil and continues to decrease the price for it, pushing tenge to 400 per 1 US dollar. Foreign experts warning about the next wave of crisis in the oil market.

According to the analysts of Bloomberg, pressure upon the price of the barrel will begin later when Iran really increases physical volumes of oil export. Their main market direction is going to be a Europe. So Kazakhstan needs to worry about it because of the market share with Iran.

Iran will purposely decrease the cost of oil in order be a shareholder in Europe's oil market, crashing national currencies of oil-producing countries.

Brent barrel price fell by 0,69% and made $28,74 in the end of the auction on Monday. It became the lowest level in last 13 years. The American WTI fell in price for 1,27%, in cost, to $29,05 a barrel.

Before imposing an oil embargo on Iran in 2012, one in every five barrels of Iranian crude went to European refineries. Iran has been selling just over one million barrels a day for the past few years, mostly to China, India, Japan and South Korea.

The analysts of Reuters consider that expectations of fast growth of dollar the national currencies, including tenge, is possible at the prices of oil prevail.

According to the information from the morning session of Kazakhstan stock exchange (KASE), the average rate of the dollar equals 379,50 tenges on January 19, 2016.

Photo: alau.kz