Reports alleging that fuel tankers appeared to breach U.S. sanctions against Iran were cited in court filings by a bank as it sought to seize the ships, accusing the owners of loan default. The accusations, which led to the the …
Following weeks of mounting tensions in the Persian Gulf where vessels have been attacked and an oil tanker has been seized, recent news reports reveal that shipowners are trying minimize risk – by turning off their transponders and changing their …
Oil tanker owners are finding a way to reduce the risks of navigating the Strait of Hormuz, the world’s most important — and lately most dangerous — energy chokepoint: vanish from global tracking systems. Copying from Iran’s own playbook, at …
Shipping companies are hiring unarmed security guards for voyages through the Middle East Gulf as an extra safeguard after a wave of attacks in the region, security companies involved said. Relations between Iran and the West are increasingly strained after …
Panama will withdraw its flag from more vessels that violate sanctions and international legislation, the country’s maritime authority told Reuters, following the removal of about 60 ships linked to Iran and Syria from the Panamanian registry in recent months. After …
American International Group Inc. is exiting business activities in Iran that came with a subsidiary it acquired and which now butt up against the sanctions against Iran that have been reimposed by the Trump administration, according to a filing. Validus …
The U.S. reimposed sanctions on Iran’s critical oil industry Monday, raising pressure on the Islamic Republic to scale back its ballistic missile program and involvement in conflicts across the Middle East. The sanctions on Iran’s energy, shipping and banking sectors, …
Iran is developing a range of new financial products, from Islamic bonds to warrants and insurance-linked securities, in an effort to give local firms more funding options as sanctions put pressure on the economy. The Iranian rial has plunged 70 …
India’s Chennai Petroleum will stop processing Iranian crude oil from October to keep its insurance coverage once new sanctions by the United States against Iran go into effect, three sources familiar with the issue said. Iran’s Naftiran Intertrade Co. Ltd., …
Chinese buyers of Iranian oil are starting to shift their cargoes to vessels owned by National Iranian Tanker Co. (NITC) for nearly all of their imports to keep supply flowing amid the re-imposition of economic sanctions by the United States. …
