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 15, 2012
Standard Chartered Plc agreed to pay $340 million to New York’s bank regulator over transactions linked to Iran, in a speedily arranged deal that helped push up the emerging market-focused lender’s shares. The deal with New York Superintendent of Financial …
August 13, 2012
The death toll from twin earthquakes in Iran has risen to 250 [later reports put the death toll in excess of 300], Iranian state television said on Sunday, while over 2,000 were injured and thousands spent the night outdoors after …
August 8, 2012
The U.S. Treasury Department and Federal Reserve were blindsided and angered by New York’s banking regulator’s decision to launch an explosive attack on Standard Chartered Plc over $250 billion in alleged money laundering transactions tied to Iran, sources familiar with …
August 7, 2012
New York’s top bank regulator threatened to strip Standard Chartered Plc of its state banking license, saying the British bank was a “rogue institution” that hid $250 billion in transactions tied to Iran, in violation of U.S. law. The New …
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 …