Tag: US-Iran

Iran will not comply with US sanctions

Iran will not comply with US sanctions

Iran will not comply with the “fully illegal” US sanctions imposed on Tehran, according to the country’s oil minister Bijan Zanganeh. Speaking at a joint news conference in Baghdad with Iraqi Oil Minister Thamer al-Ghadhban, Zanganeh said Iran would not disclose the extent or destination of its oil exports while […]

US to let eight countries to continue to buy Iranian oil

US to let eight countries to continue to buy Iranian oil

The US Government has granted eight countries permission to continue buying Iranian oil following the imposition of new sanctions on the Islamic republic next week. The biggest importers of Iranian crude, all of which are in Asia, have been requesting sanction waivers that will allow them to continue to purchase […]

Mining and oil industries support an advancing FTSE 100

Mining and oil industries support an advancing FTSE 100

The FTSE 100 has advanced its gains by more than 100 points during the final trading session of the month to 7,138.01, as European markets rebound, although the UK index is headed for a monthly loss of 4.8pc. Antofagasta led the charge on the FTSE 100, up 4.60pc, with strong […]

EU scrambles to create trade vehicle for Iranian oil

EU scrambles to create trade vehicle for Iranian oil

Last month the European Union set out its plans to form a special-purpose body to deal with transactions that include Iranian oil and European goods in a bid to avoid US sanctions on Iran, however the bloc is struggling to create the vehicle as EU members are reluctant to host […]

Stopping Iranian oil exports is a “political bluff”

Stopping Iranian oil exports is a “political bluff”

The head of state-owned National Iranian Oil Company, Ali Kardor, has been quoted by the Tasnim news agency as saying America’s call to cut Iran’s oil exports to zero is a “political bluff”. Officials from the US have said the country aims to cut Iranian oil exports to zero, in […]

Saudi meets US promise to replace Iranian oil

Saudi meets US promise to replace Iranian oil

Saudi Crown Prince Mohammed bin Salman has said the country has met its promise to the US to make up for lost Iranian supplies from US sanctions. Last week, Prince Mohammed told Bloomberg: “The request that America made to Saudi Arabia and other OPEC countries is to be sure that […]

Brent crude drops on expectations of continued Iranian exports

Brent crude drops on expectations of continued Iranian exports

Gloomy results from a British Chamber of Commerce weighed on UK stocks, dragging the FTSE 100 down 0.61pc to 7,273.66, as Brexit related gloomed suggested the UK’s economic growth was at its lowest level since the global financial crisis. Brent crude was down 1.52pc to $82.88 following expectations that Iranian […]

US oil exports drop as India turns to Iran prior to sanctions

US oil exports drop as India turns to Iran prior to sanctions

Shipping intelligence company Kpler has said that Indian buyers have reduced US crude purchases, instead turning to Iranian supplies ahead of next month’s US sanctions. Data from the shipping intelligence firm showed US oil exports to India went from a record high of 347,000 barrels per day in June to 84,000 […]