Local consultant Asdrubal Oliveros, who tracks Chinese loans closely, said on Wednesday Venezuela was close to clinching a fresh loan of $5 billion to finance oil projects. Beijing was waiting for Maduro to announce a series of economic measures, including a steep devaluation and more flexible currency controls, before extending fresh funds, Oliveros said.
US Secretary of State Mike Pompeo and Defense Secretary Jim Mattis are on an official visit to India with a top agenda priority of pressuring New Delhi to stop buying Iran’s oil.
(9.7.2018) China has already said that it will not comply with U.S. sanctions against Iran and it seems to be the only country for now in a position to do this.
(6.7.2018) “Especially as it is a country on the Gulf, it should dedicate itself to being a good neighbor and co-existing peacefully,” he added. “China will continue to play our positive, constructive role.”
Ministers from 21 Arab countries are attending the summit, as well as Kuwait’s elderly ruler, Sheikh Sabah Al-Ahmad Al-Jaber al-Sabah.
Ahead of the return of the U.S. sanctions on Iran, India’s state refiners boosted their Iranian oil purchases, pushing up Indian oil imports from Iran by 30 percent from June, to a record 768,000 bpd in July, Reuters reported on Thursday, citing preliminary tanker arrival data it had obtained from trade sources.
„It seems President Trump has been taken hostage by Saudi Arabia and a few producers when they claimed they can replace 2.5 million barrels per day of Iranian exports, encouraging him to take action against Iran,“ Hossein Kazempour Ardebili was quoted as saying.
The Trump administration has been pushing countries to cut all imports of Iranian oil from November 4 when the United States re-imposes sanctions against the Islamic Republic’s banking and petroleum sectors.
An oil production agreement signed by the Syrian government and the Kurds is working, a well-informed source has told Sputnik.
In keeping with the accord, inked a few months ago, “the Kurds are extracting 50,000 barrels of crude each day at al-Rmeilan and Jabsah oilfields.
„All the members, even the three allies, have committed and have the political will to take action and resist the United States,“ Iran’s Foreign Minister Zarif told a Vienna news conference broadcast by the Fars news agency.
„This is the first time they have shown this level of commitment, but we will have to see in the future what they really want to do and what they can do,“ Zarif said.
„If they continue to demonstrate the political will they showed today, they will get things done without any problem.“
Russian Foreign Minister Sergei Lavrov announced that Russia, China, Germany, France and the UK have agreed to establish a permanent expert mechanism that will be tasked with finding ways to maintain trade with Iran regardless of US sanctions. Sputnik discussed this with Professor Christopher Bovis.
Turkish Cypriots have criticized the southern Greek Cypriot side for banning its citizens from buying fuel from Turkish Cyprus.
Oil prices spiked after the State Department signaled the Trump administration will take a hardline approach to cutting off Iran’s oil exports.
A State Department official told reporters the administration expects oil buyers to completely cut off purchases of Iranian supplies in early November.
Oil prices were already facing upward pressure due to declining production in Venezuela and elsewhere at a time of high global demand.
The United Nations mission in Iraq is equipped, ready, and willing to help resolve the problem of the disputed areas in Iraq, the head of the mission told Rudaw’s Majeed Gly in an exclusive interview at the UN headquarters in New York.
The United Nations has already begun preparatory steps and is talking with all the relevant parties – in Baghdad, Erbil, Sulaimani, and the civil society in Kirkuk, testing the waters, said Jan Kubis, special envoy of the Secretary-General to Iraq and head of the UN mission in Iraq (UNAMI).
Technical experts from both sides were commissioned to find ways to maintain oil shipments and to protect European companies doing business with Iran, EU foreign policy chief Federica Mogherini told reporters in Brussels late on Tuesday. The experts will also propose ways to avert disruptions in air, sea and land transport from and to Iran and keep channels open for “effective banking transactions.”
The MoU was signed on Wednesday by Kambiz Zandiyeh, general manager of the British firm, and Pirouz Mousavi, managing director of IOTC, on the sidelines the 23rd International Oil, Gas, Refining and Petrochemical Exhibition held in Tehran from May 6-9, Shana reported.
This is the first time Chile has imported Iranian crude in almost 18 months, according data from S&P Global Platts trade flow software cFlow.
The Suezmax Monte Toledo was placed on subjects on a Kharg Island to Chile route at World scale 52.5 for May 24-25 loading, sources said.
Russia is an appropriate option. Since the US imposed economic sanctions against Russian companies and business elites, Russia has begun to pivot to the East. China has certainly been at the center of Russia’s efforts to increase its presence in Asia’s crude oil market.
Iran and Spain signed a memorandum of understanding for cooperation in oil and gas sector on the sidelines of Tehran-Madrid joint working group meeting.
The American legacy in Iraq and the Middle East is one of blood, oil & endless tyranny.