Russia has a “very special mechanism” to maintain crude oil supplies to India despite punishing US tariffs, a senior Russian diplomat posted in New Delhi said Wednesday.
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Iran’s oil minister said Wednesday the country has no unsold crude stored offshore, adding that all oil shipments are planned in line with market conditions.
member of Parliament’s Energy Committee of Iran praised the Oil Ministry’s performance in capturing associated petroleum gas, saying the 14th administration has taken effective steps to reduce the waste of this national resource.
Iranian Oil Ministry source has denied reports suggesting that the country is grappling with an increasing stock of crude oil held afloat.
President Masoud Pezeshkian said the government will provide any support possible to accelerate gas recovery projects, noting that the annual value of collected associated gas is estimated at $700 million.
Foreign Minister Abbas Araghchi says Iran is actively collaborating with China and Russia to prevent the reactivation of UN sanctions through the so-called “snapback” mechanism threatened by European countries.
The Washington administration is imposing additional tariffs in the amount of 25% on India in connection with its purchase of Russian oil.
Iran has a trade surplus with Pakistan, exporting goods at 3.5 times the volume of imports, according to Hamidreza Karbalaei Esmaeili, Deputy for the Indian Subcontinent at Iran's Trade Promotion Organization.
Iran's oil minister emphasized resolving gas export and payment issues during a meeting with Iraq’s electricity minister, expressing optimism that both matters will soon be settled.
Indian officials have said they would keep purchasing oil from Russia despite the threat of penalties that U.S. President Donald Trump said he would impose, the New York Times reported on Saturday.
Iran’s oil minister has rejected claims by foreign media that more than 40 million barrels of Iranian oil are stranded at sea, calling the reports baseless.
Iran’s Foreign Ministry has vehemently denounced the United States' latest round of sanctions as a blatant assault on the Iranian people and their national dignity.
Vikram Doraiswami, India's High Commissioner to the UK, defended India's oil imports from Russia, highlighting the necessity for economic sustainability and the country's long-standing security ties with Russia.
The Iranian Parliament's Energy Committee's Energy Committee head praised the Oil and Gas Investment Fund's crucial role in restoring infrastructure damaged during the 12-day conflict.
Trump has reduced the deadline for imposing sanctions on Russian oil exports, threatening 100% tariffs on buyers, mainly India and China, if Moscow doesn't end Ukraine's conflict, causing geopolitical risk.
Iran’s oil minister emphasized the continuation of the country’s oil exports, stating that the Ministry of Petroleum has necessary plans in place to address sanctions and the potential activation of the "snapback" mechanism.
The value of trade between Iran and India stood at $652 million in the first four months of 2025, India's Ministry of Commerce and Industry reported.
Bilateral trade between Iran and Armenia has reached nearly $1.0 billion, reflecting deepening economic ties between the two neighbors, according to Iran’s ambassador to Yerevan.
Iran's Supreme Economic Coordination Council emphasized preparedness and dignified living conditions amid war efforts. They approved major investments, including a National Development Fund plan to boost crude oil production and construct solar power plants.
In a message acknowledging the resilience and tireless efforts of oil industry workers during the days of the Zionist aggression, the president said the employees of this sector were frontline warriors who, under the most challenging conditions, courageously and dutifully fulfilled their mission of securing the country’s energy supply.