Iran Economy NewsIranian oil tanker sanctions suspended after nuclear deal

Iranian oil tanker sanctions suspended after nuclear deal

-

Bloomberg: National Iranian Tanker Co. got permission to ship oil to some Asian countries as sanctions were eased, the official Islamic Republic News Agency reported, citing the company’s Managing Director Ali Akbar Safaei.

 

Bloomberg

By Golnar Motevalli

National Iranian Tanker Co. got permission to ship oil to some Asian countries as sanctions were eased, the official Islamic Republic News Agency reported, citing the company’s Managing Director Ali Akbar Safaei.

Tankers belonging to the company may export crude to China, India, Turkey, Japan, South Korea and Taiwan after sanctions against insuring the country’s vessels were suspended Jan. 20, IRNA said, citing Safaei.

Iran agreed with world powers including the U.S., U.K., France, Russia, China and Germany to curtail its nuclear program in return for an easing of some sanctions on oil, auto parts, gold and precious metals in a Nov. 24 agreement signed in Geneva.

Iran is preparing for a second round of nuclear talks scheduled for next month as it seeks a further easing of sanctions that caused crude exports last year to drop to their lowest since 1990, according to data compiled by Bloomberg. The U.S. and some European countries claim Iran seeks to develop nuclear weapons. Iran says its program is only for energy.

Crude export volumes to the Asian countries covered under the agreement won’t change, IRNA said, citing Safaei. The countries are allowed to import limited volumes of Iranian crude under a sanctions waiver agreement with the U.S.

Sanctions have only been suspended on tankers belonging to the National Iranian Tanker Co. and the National Iranian Oil Co. and not to other commercial and private entities listed by the U.S. treasury department, IRNA said.

The November agreement also gives Tehran access to $4.2 billion of frozen oil revenues and eases sanctions on petrochemical exports. 

Latest news

Outcome of Iran Regime’s Corruption, High Number of Deaths in Natural Disasters

Sometimes numbers lose their mathematical meaning and become heralds of disasters. The number of 200 deaths in the village...

Iran Regime’s Oil Revenue Supports Terrorism

On August 2, John Kirby, the US National Security Council Coordinator for Strategic Communications at the White House, stated...

From Flash Floods to Socioeconomic Crises, Iran’s Regime Leaves Destruction in Its Wake

During the trial of Hamid Noury, one of the Iranian regime’s perpetrators in the 1988 massacre, the victims and...

Iran’s Regime Faces a Critical Infiltration Crisis

One of the main challenges faced by the Iranian regime over the past couple of years is the top-level...

Iran: The Unseen Threats of Reviving the JCPOA

In a recent announcement, the Iranian regime has admitted that is considering building a new ‘research reactor’ at its...

Iran Regime and Its ‘Sweet Cake’ for the People

In a so-called ‘ceremony of honoring’, introducing the commander of the Sarallah Corps of Kerman province, the Iranian regime’s...

Must read

Iranian president sacks ministers to deflect blame for policy failure

The Guardian: Iran's president, Mahmoud Ahmadinejad, has sacked his...

Prince Saud expected to visit Iraq

Source: Saudi Gazert RIYADH – Minister of Foreign Affairs...

You might also likeRELATED
Recommended to you