Iran tankers go dark to keep selling oil

04 November, 2018, 17:30 | Author: Brooke Harris
  • Donald Trump and Iran President Hassan Rouhani. —AFP

The United States has vowed to end all sales of Iranian oil, the country's crucial export, as well as global banking transactions, snapping back sanctions lifted by Trump's predecessor as USA president, Barack Obama.

India and other leading oil buyers will benefit from the waiver the United States has granted them from Iran sanctions, the South Asian nation's oil minister said on November 3.

Secretary of State Mike Pompeo said he will name the "jurisdictions" on Monday.

A Chinese official told Reuters that discussions with the US government were ongoing and that a result was expected over the next couple of days.

Quoting a senior USA administration official, Bloomberg News reported that the eight parties include Japan, India and South Korea.

Another country that has been seeking a sanctions waiver is Turkey, which takes significant volumes via pipeline from neighboring Iran.

China - the leading importer of Iranian crude - is still in discussions with the U.S. on terms, but is among the eight countries permitted to keep buying Iranian oil, according to two people familiar with the discussions.

Japan has been among the nations seeking waivers on the US -led ban on oil imports from Iran.

TankerTrackers says there are now six vessels, with a total of 11 million barrels of capacity, parked offshore as floating storage containers - freeing up port capacity and allowing for quick deliveries.

United Kingdom manufacturing sees 'worrying turnaround' as growth slumps
Faced with higher costs and sluggish demand, Chinese manufacturers have been reducing staff levels for about five years straight. Anecdotal evidence pointed to transport shortages across North America and shipping delays at ports following typhoons in Asia.

"We have sanctions on Iran and nobody has a clue what Iranian exports will be", he told the Russian news agency Tass last week.

The waivers will be valid for six months, during which time the importing country can buy Iranian oil but must deposit Iran's revenue in an escrow account.

When Trump withdrew from the nuclear deal struck between world powers and Iran, he began reimposing sanctions that had been suspended or removed by his predecessor Barack Obama.

Iran's top leader was earlier reported as saying that US President Donald Trump's policies face opposition across the world as Washington prepared to reimpose sanctions on Iran's vital oil-exporting and financial sectors. The US cut off diplomatic relations in response.

As a result of the latest sanctions, he said the United States expects to have reduced Iranian crude oil exports by more than 1 million barrels even before these sanctions go into effect.

With limited exceptions, the re-imposed USA sanctions will hit Iran as well as countries that do not stop importing Iranian oil and foreign firms that do business with blacklisted Iranian entities, including its central bank, a number of private financial institutions, and state-run port and shipping firms, as well as hundreds of individual Iranian officials.

He later said the ultimate goal was to stop all Iranian crude exports.

The new deal that the United States is offering blocks forever Iran's path to nuclear weapons, enjoins upon it to give up its ballistic missiles programme and end "malign activities", which Americans use to describe Tehran's alleged support for terrorism, in the region.

Meanwhile, there are supply disruptions in other key OPEC countries, including Venezuela and Angola.

Recommended:

  • Barrick Gold woos Randgold shareholders with higher dividend

    Barrick Gold woos Randgold shareholders with higher dividend

    Both the profitability ratios suggest a mixed sentiment for Barrick Gold Corporation ( NYSE : ABX ) and Freeport-McMoran, Inc. The EPS estimate for next year as estimated by analysts is at 0.44 while EPS for next quarter is estimated at 0.12.
    The United States could trade with China

    The United States could trade with China

    The meal would give the two leaders more time to talk and create an atmosphere more conducive to negotiations, the sources said. This contradicted a report that the White House was drawing up...
    White Claims Khabib-Floyd Only Happens In UFC

    White Claims Khabib-Floyd Only Happens In UFC

    Dana White has a clear message for Floyd Mayweather if he wants the Khabib Nurmagomedov fight - come and fight in the UFC. White, however, was adamant that a crossover fight between Mayweather and Nurmagomedov must happen inside a UFC cage.
  • Norway Summons Iranian Diplomat Over Alleged Assassination Plot

    Norway Summons Iranian Diplomat Over Alleged Assassination Plot

    In this regard, a Norwegian citizen of Iranian origin was arrested in Gothenburg, Sweden on October 21. For almost 40 years, Europe has been the target of #Iran-sponsored terrorist attacks.
    Arsenal boss Emery: Liverpool are a very good example

    Arsenal boss Emery: Liverpool are a very good example

    MF Danny Welbeck N/R - Injected pace and energy as a late sub and helped create some late chances for the victor . MF Mesut Ozil, 7 - Didn't boss the game but showed a few magical touches to create chances for his teammates.
    Asylum-seeker kids to leave Nauru

    Asylum-seeker kids to leave Nauru

    When Morrison took office in an internal government leadership ballot in August, there were 113 asylum seeker children on Nauru. That way, she said, she'd have a better future and be free. "We are anxious , and the situation is getting worse day by day".
  • Pochettino: Spurs will realise their dream

    Pochettino: Spurs will realise their dream

    The hosts tried to rally immediately after the break but Hugo Lloris denied Jimenez, Helder Costa and Neves in quick succession. DF Davinson Sanchez, N/R - Came on at 3-2 to reinforce a vulnerable rearguard and helped his side to crawl over the line.
    Samsung takes up 20pc of global smartphone market in Q3

    Samsung takes up 20pc of global smartphone market in Q3

    Using proprietary tools and research processes, IDC's Trackers are updated on a semiannual, quarterly, and monthly basis. The Chinese handset market has been declining continuously since the second quarter of 2017.
    ‘Spiritual leader’ Farrell tasked with playmaking duties against Springboks

    ‘Spiritual leader’ Farrell tasked with playmaking duties against Springboks

    However, I do find it a bit freaky playing Elliot Daly at full-back when he plays outside centre or on the wing for Wasps. One way or another, Owen Farrell was going to be the decisive factor in a tense finale between England and South Africa .
  • Kabul Govt Control Slipping Over Afghanistan With High Casualties

    Kabul Govt Control Slipping Over Afghanistan With High Casualties

    The meeting was also attended by General Scott Miller, the top U.S. and North Atlantic Treaty Organisation commander in Afghanistan.
    Oprah Stumps For Democrats In Georgia. Mike Pence Responds Brilliantly

    Oprah Stumps For Democrats In Georgia. Mike Pence Responds Brilliantly

    Lewis, who represents a district in the Atlanta area, was attending an event for Abrams headlined by Oprah Winfrey . "She's a great speaker, but I liked her better when she was giving away Toyotas and refrigerators", Ingraham said.
    Mario Segale, Inspiration for Titular Super Mario Bros. Character, Passes Away

    Mario Segale, Inspiration for Titular Super Mario Bros. Character, Passes Away

    Later, he continued his parents' property investment strategy to become a successful Italian-American real estate developer. But Segale is integral to the world of video games for one simple reason: he served as the namesake for Nintendo's Mario .


Popular

Canada adds 11,200 jobs, unemployment rate dips
While employment rose slightly in Saskatchewan, it was relatively steady in most other provinces. October's numbers mean the economy has added nearly 206,000 new jobs in the past year.

Amazon Exec Rips `Leaking' to Bezos' Post on Headquarters
A decision is scheduled by the end of the year, with 20 cities in the US and Canada in the running. Crystal City is served by Washington's Metro subway system.

Ariana Grande announces new album Thank U, Next
Rather than being the sassy high-ponytailed kiss-off the title might suggest, " thank u, next " has a honest message of gratitude. If that's the case, then tonight she shared what might be the first new taste of that record.

Twitter deletes 10,000+ bot accounts that ‘discouraged U.S. midterm voting’
A user can identify automated accounts, also known as bots, and analyse how they spread information. The spokesman said: " We took action on relevant accounts and activity on Twitter ".

Where’s the beef? Cormier, Lewis vie for heavyweight crown
Cormier has never lost to anyone except Jones, the star-crossed former light heavyweight champion who beat him twice. Carl's changed its handle to " Daniel Cormier fan account" and tweeted, "DMs are open DC let's shake this out".

OnePlus Might Soon Launch OnePlus 6T in New Thunder Purple Color
I'm comparing the OnePlus 6T specifically to smartphones with larger displays rather than those with standard sub-6-inch displays. Out of the box, the smartphone comes with the latest Android 9.0 operating system along with Android 9.0 Pie operating system.

Will return of West Indies’ T20 specialists surprise Virat Kohli-less India?
Hetmyer, 21, is also in superb form scoring 259 runs in the ODI series including the counter-attacking 106 in Guwahati. The hosts would want skipper Rohit to lead from the front and continue his purple patch with the bat.

Trump returns to WV, stumps for GOP candidates
Not the American Republic going to the polls to elect the entire House of Representatives, along with one-third of the Senate. It ominously warns, "Who else would Democrats let in?" and suggests more violence will soon penetrate the border.

DeepVeer starts wedding celebrations with family puja: See pics
Bollywood's wild child Ranveer Singh and leading lady Deepika Padukone are all set to tie the knot on November 14 and 15. Ranveer and Deepika recently announced their upcoming wedding with a message on social media.

Celtics make history during Thursday night's 117-113 win over Bucks
The Celtics eventually pulled it out thanks to some odd late-game decisions by the Bucks, but their shot at history had dried up. Embiid scored an emphatic dunk over Boban Marjanovic with 99 seconds remaining that gave Philadelphia a 117-109 lead.