Iran’s oil minister said Wednesday that the snapback mechanism would not create new obstacles to crude oil sales, stressing that the government has plans in place should challenges arise.
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India is a very close partner of the US, but President Donald Trump has imposed additional tariffs on New Delhi for its purchases of Russian oil as part of actions taken against President Vladimir Putin for the Ukraine war, Secretary of State Marco Rubio has said.
The European Union plans to ban Russian LNG imports into the bloc a year earlier than envisaged as part of a 19th package of sanctions against Moscow, EU officials said on Friday, a change that follows pressure from U.S. President Donald Trump.
Iran’s oil minister said Wednesday that the country is pursuing the outcomes of the 18th Iran-Russia Joint Economic Cooperation Commission and preparing to host the 19th session in Iran.
The United States has announced new Iran-related sanctions, targeting what it has described as a network of “shadow banking” that has facilitated financial transactions resulting from Iran’s oil sales and other activities.
US President Trump imposed a 50% tariff on India for Russian oil, causing a rift between the two countries, justifying the move to curb Russia's finances.
India continues to buy cheap Russian crude oil, despite being punished for it by the United States.Last year, India’s imports of Russian crude surpassed 1.7 million barrels per day.India is betting big on clean energy, but coal remains key in its energy mix.
The spot supply of Russian oil has not changed from earlier, with barrels trading at a discount of $2-$3 per barrel to Dubai for delivery at Indian ports, said Anuj Jain, head of finance at Indian Oil Corp, the country's top refiner.
Congress leader Shashi Tharoor on Sunday hit out at US commerce secretary Howard Lutnick over his recent remarks on India-US trade deal saying, "India doesn't have to say sorry about anything".
Ayatollah Seyyed Ali Khamenei, the Leader of the Islamic Revolution, stressed the need to modernize Iran’s oil industry by utilizing the expertise of young graduates to replace outdated methods and equipment, according to khamanei.ir.
The United States has been unable to stop Iran’s oil sales, Iran’s Parliament speaker said Tuesday.
Iran’s Foreign Ministry spokesman on Tuesday rejected unilateral claims over the Arash gas field and reaffirmed Tehran’s commitment to dialogue with Kuwait to reach a fair and lasting agreement.
A report published in the media has ruled out the cataclysmic scenarios envisioned for the Iranian economy after a potential return of the United Nations sanctions, a process known as the snapback that European parties to a 2015 deal on Iran’s nuclear program have vowed to trigger if the country fails to accept their demands.
Iran’s President Masoud Pezeshkian presided over a meeting on Wednesday that focused on the progress of initiatives to increase oil production capacity, collect flared gas, and secure essential goods for the country.
Russia's fuel oil shipments went mostly to Saudi Arabia and India in July as Asia and the Middle East remain the key outlets for Moscow's fuel oil and vacuum gasoil (VGO) amid import bans and embargoes in the West.
The National Iranian Oil Refining and Distribution Company (NIORDC) is conducting extensive maintenance at 10 refineries across the country to ensure a stable and secure supply of fuel, a senior company official announced.
External Affairs Minister S Jaishankar on Saturday defended India’s energy ties with Russia, saying that New Delhi’s oil purchases were both in national and global interest.
External Affairs Minister S Jaishankar on Saturday defended India’s energy ties with Russia, saying that New Delhi’s oil purchases were both in national and global interest.
India has increased crude oil purchases from Russia since 2022, causing tensions with the US, leading to a 25% penalty tariff on India over the existing 25% reciprocal tariff.
The United Kingdom government imposed sanctions on one Iranian individual and four entities on Wednesday with the accusation of what has been called "facilitating Tehran's cross-border activities”.
The US announced new sanctions Thursday targeting individuals and companies it alleged were facilitating Iran’s illicit oil sales.