DUBAI (Reuters) – Iran said on Wednesday private exporters have had “no problems” selling Iranian oil, and 3 million barrels of crude could be sold soon to non-government traders, state media reported, despite U.S. sanctions targeting Tehran’s oil sales. Iran began selling crude oil to private companies for export in late October, just ahead of […]
Last month, the Trump administration reimposed sanctions on Iran’s energy sector as part of its ‘maximum pressure’ campaign against Iran. But it nevertheless sought to prevent an unhelpful spike in oil prices ahead of the midterm elections. As a result the United States issued eight waivers to importers of Iranian oil: China, India, Japan, South Korea, […]
The United States has granted Iraq a 90-day extension to an exemption from reimposed sanctions on Iran to keep on importing energy, a government source said on Thursday. President Donald Trump reimposed crippling unilateral sanctions on Iran’s energy and finance sectors on November 5 following his May decision to abandon a landmark 2015 nuclear deal between major powers and […]
This year, the Valdai Discussion Club took part in the 2018 Doha Forum for the first time by holding a session titled “Russia’s evolving global role” on December 16 as part of the event’s business program. Director of PIR Center’s “Russia and nuclear non-proliferation” program Andrei Baklitsky was at the forum and shared his comments […]
DUBAI (Reuters) – Iran called on the European Union on Monday to press U.S. authorities to allow delivery of Airbus passenger aircraft purchased by Tehran, Iran’s student news agency ISNA reported.To upgrade its aging fleet, Iran Air ordered 200 passenger aircraft – 100 from Airbus, 80 from Boeing and 20 from Franco-Italian turboprop maker ATR […]
Iran is not the only loser if the Iran nuclear deal (the Joint Comprehensive Plan of Action or JCPOA) collapses. A collapse may be near given the U.S. exit from the deal, and U.S. sanctions not only affect American banks and companies but also prevent Europeans from trading with Iran. The U.S. policy is to […]
Iran is going to offer its crude to Asian buyers, to be delivered in January, at US$1 per barrel less than this month, Reuters reports, citing a pricing document. The official selling price of Iranian Light crude was set at US$0.30 above the Platts Dubai/Oman average for January. This makes Iranian Light US$0.30 a barrel […]
Earlier this month, an interim agreement on free trade between Iran and the Eurasian Economic Union (EAEU) was approved at the regional body’s summit in the Russian city of St. Petersburg. After relevant legal procedures in Iran are fully carried out, the deal is expected to take effect as of early 2019. Seen as Iran’s biggest ever deal on free […]
BAGHDAD (Reuters) – Iraqi Prime Minister Adel Abdul Mahdi said on Tuesday he would send a delegation to the United States to seek an exemption from sanctions against Iran that would allow Baghdad to keep importing gas from Tehran. “The American side is cooperating with Iraq to find solutions that would remove pressure on Iraq […]
BERLIN, Dec 11 (Reuters) – German exports to Iran soared in October, a month before the United States re-instated sanctions on the Islamic Republic to choke its oil and shipping industries, data seen by Reuters showed on Tuesday. The surge signals willingness among Germany’s small to medium-sized firms, or Mittelstand, to continue doing business with […]
BRUSSELS (Reuters) – The European Union’s foreign policy chief said on Monday a system to facilitate non-dollar trade with Iran and circumvent U.S. sanctions could be in place by year’s end. The European Union wants the so-called Special Purpose Vehicle (SPV) to help preserve the economic benefits for Iran deriving from the curbs it placed […]
NEW DELHI, Dec 7 (Reuters) – State-run Indian oil refiner Hindustan Petroleum Corp will buy Iranian crude in January after a gap of six months, with the nation’s overall purchases from Tehran at 9 million barrels in the month, four industry sources said. The United States in early November granted India a six-month waiver from […]
Iranian officials have announced that a special channel to conduct trade with European countries has been established and will be implemented soon in order to facilitate trade while bypassing US sanctions and keeping the Iran nuclear deal alive. Ali Akbar Salehi, head of Iran’s Atomic Energy Organization and one of the top nuclear negotiators of the […]
DUBAI (Reuters) – Iran’s parliament approved a tweaked draft law against funding terrorism on Wednesday which officials hope will bring Tehran closer to global standards and help remove it from investment blacklists as it faces renewed U.S. sanctions. The official news agency IRNA said lawmakers had included amendments requested by a powerful clerical body, which […]
US withdrawal from the Iran nuclear deal is reinforcing a trend that was already underway as doubts mounted about the Donald Trump administration’s commitment to the Joint Comprehensive Plan of Action (JCPOA): Iran is looking east for its economic survival. Under waivers announced by the Trump administration in November, eight countries are permitted to continue […]
It has been nearly seven months since the United States withdrew from the Iran nuclear deal. As sanctions begin to bite, Iranian companies are laying off employees, and Iranian households are facing renewed hardships. Iran has exercised remarkable patience while it waits for Europe to devise its special purpose vehicle (SPV), a new entity intended to help […]
Iran said Saturday it had finalized a deal with South Korea to trade oil for goods, skirting renewed US sanctions. “A mechanism has been devised for returning oil export revenues from South Korea, by which Iran’s oil export revenue will be bartered with imported goods,” Hossein Tanhayi, head of the Iran-South Korea chamber of commerce, told state news agency […]