Iran is shipping oil to China, its top buyer, despite a row over freight terms, and Japan has taken steps to resume imports in August as Tehran finds ways to get around Western sanctions on ship insurance for its drastically …
A prominent U.S. lawmaker has asked the small South Pacific island nation of Tuvalu to stop reflagging Iranian oil tankers and warned its government of the risks of running afoul of U.S. sanctions. The European Union banned Iranian oil imports …
The United States gave China a six-month reprieve from Iran financial sanctions on Thursday, avoiding a diplomatic spat with a country whose support it needs to try to quell violence in Syria and rein in Tehran’s nuclear ambitions. With Thursday’s …
South Korea became the first major Asian consumer of Iranian crude to announce a halt to imports after the government said they would be suspended from July 1 due to a European Union ban on insuring tankers carrying Iranian oil. …
In less than two weeks, Iran’s biggest oil buyers will lose access to the London-based insurance market that protects 95 percent of the world’s tanker shipments against oil spills or catastrophic collisions. Barring an unexpected last-minute deal to relax European …
Iran’s oil exports have fallen by an estimated 40 percent since the start of the year as Western sanctions tear into the country’s vital oil industry, the International Energy Agency said on Wednesday. The agency, which represents the interests of …
Iran’s biggest tanker operator, NITC, has $1 billion in ship insurance cover to keep its fleet on the water and serve clients in Asia despite Western sanctions on the Islamic Republic’s oil trade, a senior NITC official said on Tuesday. …
The United States extended exemptions from its tough, new sanctions on Iran’s oil trade to seven more economies on Monday, leaving China the last remaining major importer exposed to possible penalties at the end of the month. In the latest …
SaveOurSeafarers, the organization that supports anti-piracy measures and aids the crews who are taken by pirates, has expressed its approval of the air strikes carried out by the naval forces of the European Union on Tuesday. Alastair Evitt, chairman of …
European ship owners could violate impending EU sanctions against Iran without even knowing it every time they set sail, leaving them vulnerable to being blacklisted, the managing director of leading industry group Intertanko said on Friday. Vessels ranging from tankers …
