Iran General NewsSasol to avoid Iran’s oil

Sasol to avoid Iran’s oil

-

Wall Street Journal: South Africa’s Sasol Ltd. said it is trying to diversify away from Iranian oil as sanctions from the U.S. and Europe increase pressure on those doing business with Tehran, The Wall Street Journal reported.

The Wall Street Journal

By Samuel Rubenfeld

South Africa’s Sasol Ltd. said it is trying to diversify away from Iranian oil as sanctions from the U.S. and Europe increase pressure on those doing business with Tehran, The Wall Street Journal reported.

Sasol, which is the world’s largest producer of motor fuels from coal, depends on Iranian oil imports for 20% of its crude, which calculates to 12,000 barrels a day, at its Natref refinery, the Journal report said.

“In view of recent developments regarding trade restrictions and possible oil sanctions against Iran, Sasol Oil is diversifying its crude oil sourcing,” a company spokeswoman said to the Journal, declining to give further details.

The decision comes as increased sanctions from the U.S. and the European Union clamp down on Tehran’s ability to sell its oil. President Barack Obama signed into law on Dec. 31 legislation that punishes anyone doing business with Iran’s central bank, which routes most of the country’s oil transactions. Earlier this week, the E.U. agreed on sanctions that include an oil embargo on Iran that goes into effect on July 1.

Measures from the U.S. against countries can be waived if that nation shows a “significant” reduction in oil
imports from Iran, and U.S. officials have fanned around the world—including to South Africa—to explain how the sanctions work.

“South Africa has not made a decision,” a spokesman for the Department of International Relations said to the Journal on the country’s position regarding sanctions against Iran. “The matter is currently under discussion.”

Latest news

Iran: “The Conquest of the Power Structure by Brokers and Corrupt People”

Iran supreme leader Ali Khamenei's faction seeks to attribute the widespread poverty, inequality, class divide, bankruptcy, and current economic...

Protests Continue in Khuzestan for the Seventh Night

At night on July 21, the people of the southwestern Iranian province of Khuzestan once again took to the...

In the Real World, China and Russia Are Turning Away From Iran

Negotiations to revive the 2015 Iran nuclear deal JCPOA have stalled, and the task of the seventh round of...

Iran Economic Collapse, As Explained by State Media

The Iranian economic crisis, caused solely by the mullahs’ corruption and failed policies, is now at a critical point...

Drought in Khuzestan Due to the Implementation of a Non-Expert Water Transfer Project

The water crisis in Iran has become one of the main crises. One of the worst-hit areas is the...

AMIA a Case of Unresolved Terror by Iran’s Regime

On Sunday, May 18, family members of the bombing victims of the Argentina-AMIA Jewish Center building which happened 27...

Must read

Message to John Kerry

Washington Times: From Capitol Hill to Brussels, supporters of...

Report: Iran, Hezbollah terror threat rising

AP: Iran's elite Quds Force and Hezbollah militants are...

You might also likeRELATED
Recommended to you