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India allowed its state refiners to import Iranian oil with Tehran arranging tankers and insurance after firms, including the country’s top shipper Shipping Corp of India (SCI) (SCI.NS) halted voyages to Iran due to the re-imposition of the US sanctions, media reports said. New Delhi is attempting to keep Iranian oil flowing mirrors a step […]
New Delhi is attempting to keep Iranian oil flowing mirrors a step by China, where buyers are shifting nearly all their Iranian oil imports to vessels owned by National Iranian Tanker Co (NITC), Reuters reported.
The moves by the two top buyers of Iranian crude indicate that Iran may not be fully cut off from global oil markets from November, when US sanctions against Tehran’s petroleum sector are due to start.
President Donald Trump ordered the re-imposition of economic curbs after withdrawing the United States from a 2015 nuclear deal between Iran and six world powers. No one trading with Iran will do business with America, he said.
“We have the same situation (as most Western shippers) because there is no cover, so we cannot go (to Iran),” an SCI official told Reuters.
New Delhi turned to the NITC fleet after most insurers and reinsurers had begun winding down services for Iran, wanting to avoid falling foul of the sanctions given their large exposure to the United States.
SCI had a contract until August to import Iranian oil for Mangalore Refinery and Petrochemicals Ltd (MRPL) (MRPL.NS), two sources familiar with the matter said.
Eurotankers, which had a deal with MRPL to import two Iranian oil cargoes every month, has also said it cannot undertake Iranian voyages from September, the sources said.
این مطلب بدون برچسب می باشد.
Iran exported 130,000 tons of eggs valued at more than $140 million to the target countries in the previous Iranian calendar year (ended on March 19), the deputy agriculture minister for livestock, and poultry affairs said.
Iran’s Minister of Transport and Urban Development has announced that the government plans to connect the Chabahar port in southeastern Iran to the country’s railway network through the city of Zahedan by the end of the current Iranian year ( late March 2025).
The Bank for International Settlements (BIS) put Iran’s total deposits with foreign banks and financial institutions at more than $13 billion.
Head of the Study, Monitoring and Market Development Office of the Central Organization of Rural Cooperatives of Iran says 21 metric tons of Iranian saffron worth $207,786,281 were directly exported to 55 countries in the Iranian calendar year ending in late March.
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