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Rupee payment system for Iranian oil

Rupee payment system for Iranian oil

On June 22, Reuters reports from New Delhi that India is looking to revive a rupee trade mechanism to settle part of its oil payments to Iran, fearing foreign channels to pay Tehran might choke under pressure from U.S. sanctions, two government sources said.  

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South Pars Gas Field upgraded despite sanctions

South Pars Gas Field upgraded despite sanctions

Reuters LONDON, reports on 19 June - The possible withdrawal of French oil major Total from Iran’s South Pars gas field has not slowed down the project, a senior Iranian official said, adding that Tehran is in talks with Russia’s Gazprom over the development of two other fields. 

 

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Renault to remain in Iran, CEO says

Renault to remain in Iran, CEO says

French carmaker Renault will maintain its presence in Iran while taking measures to avoid the risk of penalties for breaching renewed US sanctions, CEO Carlos Ghosn said Friday.

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The dollar will be eliminated from Iran-China trade

The dollar will be eliminated from Iran-China trade

The CEO of the Central Bank of Iran (CBI) has announced new trade arrangements for Iran and China trade. Valiollah Seif stated that the dollar will be eliminated from a major part of their economic transactions and replaced with the currencies of both countries.  

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Ten companies who left Iran

Ten companies who left Iran

On 6 June 2018, Ellen R Wald wrote in Forbes that when President Trump announced the return of U.S. sanctions on Iran almost one month ago on May 8, there was a great deal of skepticism about how many global businesses would cease operations in Iran or with Iranian agents.  

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Pompeo reaction to speech by Iran Supreme Leader

Pompeo reaction to speech by Iran Supreme Leader

The US Secretary of State has reacted to Iran’s intentions for enrichment. Mike Pompeo tweeted: “We’re watching reports that Iran plans to increase its enrichment capacity. We won’t allow Iran to develop a nuclear weapon. Iran is aware of our resolve. It’s another example of Iran foolishly squandering its resources. It should surprise no one if protests in Iran continue.”

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Command of Supreme Leader to the Atomic Energy Organization

Command of Supreme Leader to the Atomic Energy Organization

Speaking to people at Imam Khomeini’s Mausoleum, Iran’s Supreme Leader, Ayatollah Khamenei said: “Foreigners and groups inside Iran are pretending that if Iran does not accept a defective form of the JCPOA that is being imposed on it, there will be war. No, this is not true.”

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India seeks extra 1BN barrels of oil from Iran

India seeks extra 1BN barrels of oil from Iran

Reuters reports from NEW DELHI on June 1 that the Indian state refiner Bharat Petroleum Corp has requested an extra one million barrels of oil from the National Iranian Oil Co. (NIOC) for June, two industry sources said, amid a looming threat of stringent U.S. sanctions.  

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