Tokyo — Japan remains firmly committed to seeking US exemption for Iranian oil imports as it sees the supplies as important for the country’s energy security and businesses, a top government official told S&P Global Platts on Thursday. “Japan’s position remains firm even after the second round of talks [with the US government],” Ryo Minami, the […]
Iran is sticking to the terms of its nuclear deal with world powers, a UN atomic watchdog report showed Thursday, despite ongoing uncertainty over its future. The report from the International Atomic Energy Agency showed that Iran was still complying with the key parameters of the Joint Comprehensive Plan of Action (JCPOA), agreed in 2015 […]
Total SA’s withdrawal from Iran’s giant South Pars gas field has given China another chance to secure a stake in the world’s most coveted energy assets: abundant and low-cost Middle Eastern oil and gas. Chinese companies have invested in Iraq, the United Arab Emirates and Iran in recent years, and have expressed interest in oil […]
Germany and France said they’re working on financing solutions to sidestep U.S. sanctions against countries such as Iran, including a possible role for central banks. The discussions, which also involve the U.K., are a signal that European powers are trying to get serious about demonstrating a greater level of independence from the U.S. as President […]
Iran on Monday demanded the UN’s top court suspend US nuclear-linked sanctions against Tehran, accusing Washington of plotting its “economic strangulation”. The Islamic Republic launched a suit at the International Court of Justice in The Hague over US President Donald Trump’s decision to reimpose the sanctions that had been lifted in a 2015 accord. Iran […]
A European Union aid plan for Iran sends “the wrong message at the wrong time” to the government in Tehran, the US State Department said Friday. The USD 20.7 million EU assistance package “perpetuates the regime’s ability to neglect the needs of its people and stifles meaningful policy changes,” read a statement Friday signed by US […]
German foreign minister Heiko Maas recently penned an article in which he said that “it’s essential that we strengthen European autonomy by establishing payment channels that are independent of the US, creating a European Monetary Fund and building up an independent Swift system.” So what exactly is Maas’s quibble with SWIFT, the Society for Worldwide Interbank Financial Telecommunication? […]
Iran is cheerful with Imran Khan in office next door. Even before his inauguration as Pakistan’s new prime minister, President Hassan Rouhani picked up the phone to congratulate Khan and invite him to Tehran. There are two main reasons, among others, for Iran’s cheerfulness. As discussed in an Aug. 4 conversation between Iran’s ambassador to Pakistan, Mehdi Honardoost, and the Pakistani […]
Iran’s legal challenge against renewed sanctions by the United States goes before the UN’s International Court of Justice on Monday. Here are four key questions regarding the case: What is the case about? Iran’s attempt to block the reinstatement of sanctions, announced by US President Donald Trump earlier this year, is the latest in a […]
After the Trump administration’s decision unilaterally to exit the 2015 Iran nuclear deal, Europe’s anger turned quickly to resignation, as companies moved to sever ties with Tehran lest they suffer retaliation from Washington. Germany is now calling for a reset in the nature of trans-Atlantic relations that will give Europe more autonomy to create foreign […]
BRUSSELS (Reuters) – The European Union agreed 18 million euros ($20.6 mln) in aid for Iran on Thursday, including for the private sector, to help offset the impact of U.S. sanctions and salvage a 2015 deal that saw Tehran limit its nuclear ambitions. The announcement is part of the bloc’s high-profile efforts to support the […]
The Kazakh coastal city of Aktau hosted Aug. 12 the fifth summit of the five Caspian littoral states — Iran, Russia, Kazakhstan, Azerbaijan and Turkmenistan — on the legal status of the Caspian Sea. The presidents of the five countries signed a landmark convention on the legal status of the Caspian, ending 21 years of disagreements over how to coordinate their […]
TEHRAN, Iran — Iran says Britain has stepped in to help it redesign a reactor following the U.S. withdrawal from Tehran’s nuclear agreement with world powers. Under the agreement, experts from the United States and China were to help Iran redesign the Arak heavy water nuclear reactor to limit the amount of plutonium it produces […]
GENEVA (22 August 2018) – Sanctions must be just, and must not lead to the suffering of innocent people, says United Nations Special Rapporteur Idriss Jazairy. “The reimposition of sanctions against Iran after the unilateral withdrawal of the United States from the Iran nuclear deal, which had been unanimously adopted by the Security Council with […]
Russia is reportedly making preparations to establish a regional integrated payment network. Iran understandably wishes to join such an endeavor. But what will such a network look like, what will its implications be for Iran and the region, and how will it be received by other countries, especially the United States? The news of the […]
BEIJING/SINGAPORE (Reuters) – China, seeking to skirt U.S. sanctions, will use oil tankers from Iran for its purchases of that country’s crude, throwing Tehran a lifeline while European companies such as France’s Total are walking away due to fear of reprisals from Washington. The United States is trying to halt Iranian oil exports in an […]
Iran’s Foreign Minister Mohammad Javad Zarif said Sunday that Europe had not yet shown it was willing to “pay the price” of defying Washington in order to save the nuclear deal. Zarif said European governments had put forward proposals to maintain oil and banking ties with Iran after the second phase of US sanctions return […]
In the international negotiations that resulted in the 2015 agreement to limit Iran’s nuclear activities, I led the team of American diplomats representing the United States. During the talks, my Iranian counterparts would occasionally ask how they could be assured that any deal we struck would be durable. Most Republicans opposed it, and looking at the […]
LONDON (Reuters) – Clouds are gathering over the outlook for the oil market, as trade tensions and rising crude supply threaten to swamp demand growth, but some of the world’s most prominent energy investors are convinced the price will return to record highs. The escalating trade war between the United States and China threatens global […]
India, the second biggest crude customer for Iran, may cut its imports from the Islamic republic by half to secure a waiver from the U.S. to continue with shipments, people familiar with the matter said. Officials from the U.S. had discussed the issue of a conditional waiver on sanctions in talks last month in New Delhi, the people said, […]
he Trump administration has no coherent Iran policy. In May, U.S. President Donald Trump unilaterally withdrew the United States from the Joint Comprehensive Plan of Action (JCPOA)—the Iran nuclear deal—even though Iran was not in violation of it. Other than Trump’s uninformed and empty assertion that it was “the worst deal ever,” his pretext for the withdrawal […]
NEW DELHI (Reuters) – Indian Oil Corp.’s planned $5.10 billion expansion of its unit Chennai Petroleum, partly owned by Iran, is not expected to be hit by U.S. sanctions against Tehran, Chairman Sanjiv Singh said on Monday. Chennai Petroleum plans to invest up to 356.98 billion rupees to replace its 20,000 barrel per day (bpd) […]
Iran is selling oil and gas at a discount to Asian customers as it prepares for the return of US sanctions, state news agency IRNA reported on Monday. The “informed source” in Iran’s oil ministry did not give details of the discount, but sought to downplay the move as common industry practice. “Discount is part […]
hina National Petroleum Corp. is expected to take the lead on a $5 billion project to develop Iran’s share of the world’s biggest gas deposit, taking over from France’s Total SA, which halted operations after U.S. President Donald Trump reimposed sanctions on the Islamic Republic. State-owned CNPC, which joined a consortium with Total and Iran’s Petropars Ltd. in 2016 […]
The first U.S. sanctions have been reimposed on Iran with little sign of either side softening its position. Curbs on oil exports will follow in early November and the effect will be bigger and swifter than last time around. Oil forecasters don’t seem to have grasped that yet. There’s no doubt that President Donald Trump will […]
BERLIN (Reuters) – German Economy Minister Peter Altmaier has sharply criticized U.S. President Donald Trump’s tariffs and sanctions policies, saying such measures were destroying jobs and growth and that Europe would not bow to U.S. pressure regarding Iran. The United States has triggered a bitter tit-for-tat trade dispute with import tariffs meant to protect American […]
Iran has threatened to block access to the world’s busiest oil route in response to U.S. sanctions designed to reduce the revolutionary Shiite Muslim power’s petroleum exports to zero. While there has been no indication that Iran was prepared to go through with the warning, such a move would likely be catastrophic for the region […]
The EU said Monday it deeply regretted the US reimposition of sanctions on Iran after President Donald Trump pulled out of the 2015 nuclear pact, and vowed immediate steps to protect European companies. The statement by EU diplomatic chief Federica Mogherini and the foreign ministers of Britain, France and Germany said it would also work […]
ZURICH (Reuters) – Nestle (NESN.S) sees no direct fallout from renewed U.S. sanctions on Iran, the world’s biggest food company said on Tuesday. “We continue to closely follow political developments regarding sanctions against Iran. There are no direct implications for our business at this stage,” it said in response to a query. Nestle Iran has […]
The US sanctions on Iran are forcing many European companies to rethink their investment plans. But some small businesses are choosing to deal with Iranians, rather than Americans. Al Jazeera’s David Chater went to Chateauroux in France, where one company is doing big business with Iran.
The EU has launched an attempt to protect European businesses from Donald Trump’s sanctions against Iran as the US administration voiced its intent to apply maximum pressure on Tehran by vigorously applying its punitive measures. The sanctions came into force at midnight (US east coast time). At the same time, a blocking statute – last used to protect […]
As Iran’s auto industry is grappling with a multifaceted crisis, there are signs that China’s nascent carmakers may step in to become part of the solution. The US withdrawal from the Joint Comprehensive Plan of Action (JCPOA) and the impending reimposition of sanctions have not only caused a currency crisis in Iran but also led French […]
The U.S. has been unable to persuade China to cut Iranian oil imports, according to two officials familiar with the negotiations, dealing a blow to President Donald Trump’s efforts to isolate the Islamic Republic after his withdrawal from the 2015 nuclear accord. Beijing has, however, agreed not to ramp up purchases of Iranian crude, according […]
When the U.S. slaps a nation with punitive sanctions, it tries to prevent not only American companies from doing business with the target country but also those of other states. Inevitably, these extraterritorial effects hit some countries much harder than others — as India has just found to its cost. Even though New Delhi has […]
In a recent interview, French Economy Minister Bruno Le Maire expressed optimism for the delivery of eight ATR turboprops to Iran as part of a contract with Iran Air, the country’s national airline. The encouraging comments come after Le Maire disclosed two weeks ago that the United States had rejected a joint European letter requesting a broad range […]
Emami is looking for partners as it plans to start operations in Iran by the end of this year. This comes at a time when US sanctions looms large on the country, according to a report by Business Standard. The company is working towards entering Iran by the end of this year and start selling products from the […]