U.S. Forecasts 50% Cut in Iran Oil Sales, Missing Goal

The Trump administration forecasts that it will persuade countries to cut Iranian oil imports by as much as 1 million barrels a day when it reimposes energy sanctions in early November, according to two people familiar with the administration’s efforts to choke off Tehran’s crude sales. The assessment forecasts a range of likely cuts of
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The Government needs to look into the problems being faced by exporters shipping consignments to Iran in view of the increasing threat of US economic sanctions against the Persian Gulf nation, FIEO said recently. Federation of Indian Export Organisations (FIEO) President Mr. Ganesh Gupta said that the rupee account currently used for payment settlement has
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With the new US sanctions against Iran set to that came into effect from 7th August, the fate of India’s rice and tea exports may now depend on the possible exemption of food and medicines from the sanctions and the agreement on oil imports reached between New Delhi and Tehran. “We are keen to study
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The U.S. has been unable to persuade China to cut Iranian oil imports, according to two officials familiar with the negotiations, dealing a blow to President Donald Trump’s efforts to isolate the Islamic Republic after his withdrawal from the 2015 nuclear accord. Beijing has, however, agreed not to ramp up purchases of Iranian crude, according
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EHRAN: Iranian Deputy Minister of Roads and Urban Development and Managing Director of Ports and Maritime Organization Mohammad Rastad said that the India’s IPGPL will soon start its development project in Chabahar Port. “The Indians will soon kick off their official activity at Iranian Southeastern Port of Chabahar with an $85 million capital,” Mohammad Rastad
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The Union Minister of Petroleum & Natural Gas, Mr Dharmendra Pradhan, has said that India has taken note of the re-imposition of US sanctions on Iran in wake of the US pullout from the Joint Comprehensive Plan of Action on May 8, 2018. Crude oil price fluctuation is a frequent market phenomenon and the price
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After the US sanctions against buyers of Iranian crude come into effect in November, Iran has reportedly decided to start providing ships and insurance cover to Indian buyers importing its crude. The US, which in May pulled out of a landmark nuclear deal and said sanctions will be re-imposed on Iran within 180 days, has
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Facing the threat of U.S. oil sanctions on Iran, India continued to rely on Iraq as its top oil supplier in the April-June quarter, followed by Iran and Saudi Arabia, the oil minister said Monday. Petroleum Minister Dharmendra Pradhan said India bought 7.27 million metric tons of oil from Iraq, 5.67 million tons from Iran
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Japan is seeking an early exemption from the US on its sanctions against Iran as among the highest priority for the country’s energy security as well as local refiners’ need for Iranian oil, a top government official told S&P Global Platts. Securing stable supply sources a priority “Our principle is to get the exemption firmly,”
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US President Donald Trump signed an executive order on May 8, 2018 that will withdraw the US from the Iran nuclear deal and start a 180-day countdown for the Trump administration to re-impose all of the sanctions that were relaxed during the Obama presidency. The Trump administration has given businesses until early November 2018 to
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