Iran is resurrecting its stock exchange, last used four years ago, to sell one million barrels of crude, the National Iranian Oil Company said in a statement quoted by S&P Global Platts. Now, the analysts quoted by the news outlet are of the opinion this won’t do much about the country’s oil exports after November 4, when the U.S. sanctions will come into effect, but it does demonstrate what some warier observers have noted repeatedly: Iran is not as helpless as it may seem. The idea for the exchange is to have private local entities buy the crude and then resell it to foreign traders. Analysts accurately point out that this would still put the foreign entities on the hook for penalties from Washington as doing business with Iranian entities would constitute a breach of the sanctions. However, not all agree that this fact would make the move ineffective. […]