September 17, 2012
The United States has renewed waivers on Iran sanctions for Japan and 10 European countries because they cut their purchases of the OPEC nation’s crude oil, Secretary of State Hillary Clinton said on Friday. The renewal means banks in the …
September 4, 2012
Despite ludicrous claims to the contrary, Western sanctions have hurt Iran’s crude oil exports, but it’s also not all gloom and doom. In unsurprising, but obviously factually incorrect, remarks, the director of international affairs at the National Iranian Oil Co. …
August 30, 2012
Insurance companies based in the EU are not allowed to provide cover for ships that carry Iranian cargo. The EU sanctions are aimed at the protection and indemnity (P&I) clubs based in the EU, which dominate the marine insurance industry. …
August 22, 2012
Asia’s crude imports from Iran are set to recover in September to levels reached before a July 1 insurance ban by the European Union plunged trade with the Islamic Republic into uncertainty not seen in decades. Top Asian buyers — …
August 15, 2012
India has joined Japan in offering government-backed insurance for ships carrying Iranian crude in order to bypass European sanctions that have nearly halved Iranian oil exports to key markets. The first Indian ship to carry oil from Iran with Indian …
August 1, 2012
President Barack Obama announced new U.S. sanctions on Tuesday against foreign banks that help Iran sell its oil and said the measure would increase pressure on Tehran for failing to meet its international nuclear obligations. Obama’s decision, in an executive …
July 31, 2012
U.S. lawmakers moved a step closer to finalizing new sanctions aimed at further restricting Iran’s oil revenues after negotiators from the Senate and House of Representatives agreed on a compromise bill on Monday. The bill includes several new provisions seeking …
July 27, 2012
South Korea may soon resume Iranian crude imports after having completely halted shipments in July because of a European Union ban on insuring tankers carrying oil from the Islamic Republic. A resumption would suggest top Asian buyers of Iranian oil …
July 18, 2012
Iran said it would insure any foreign ships that enter its waters, in an effort to skirt a European Union ban on insuring ships carrying Iranian crude that has hampered the country’s oil exports. “The Islamic Republic of Iran will …
July 13, 2012
South Korea will soon decide on whether to resume Iranian crude imports after Tehran offered to ship and insure the oil to get around the impact of EU sanctions, two Korean government sources said on Friday. The EU oil embargo …