Five world powers and Iran agree to set up legal entity to circumvent US sanctions after Trump pullout from 2015 deal. In a major snub to the United States, the European Union has decided to set up a new mechanism to enable legal trade with Iran without encountering US sanctions. The EU will create new payment channels to preserve […]
British Prime Minister Theresa May said Iran has honored the multilateral agreement to limit its nuclear weapons program and said the deal should remain in place, in sharp contrast with U.S. policy under President Donald Trump who has pulled America out of the deal. “From what we see, we believe that it is doing that,” May told […]
The International Court of Justice (ICJ) will rule on Iran’s lawsuit against the United States on October 3. A public meeting will be held in the morning at the Peace Palace in The Hague, during which Judge Abdulqawi Ahmed Yusuf, president of the court, will read the court order. Iran filed a lawsuit filed with […]
South Korea’s new ambassador to Iran, Yu Chang Hwang, said Korean companies will continue to work with Iran, despite the US pullout from the nuclear deal. Yu was speaking in a meeting with Deputy Chairman of Tehran Chamber of Commerce, Industries, Mines and Agriculture for International Affairs Mohammad Reza Bakhtiari, Mehr News Agency reported. “South […]
European powers try to keep Iran nuclear deal alive amid US sanctions WASHINGTON/PARIS: Nations that struck the 2015 Iran nuclear deal, except for the United States, meet on Monday in what many diplomats fear may prove a quixotic effort to keep the agreement alive after US sanctions targeting Iranian oil exports resume in November. Ministers […]
India In Touch With EU Over Alternative Payment Mechanism For Iran Oil Imports As the US sanctions on import of Iranian crude oil loom large, India is engaged with the European Union for an alternative channel for making payments to Tehran for buying petroleum products, sources said today. They said the EU has been been […]
Opec chief says cartel must stick together amid sanctions on Iran The head of Opec has said the oil cartel must stick together for the good of the global economy as Iran faces renewed US sanctions. Opec secretary-general Mohammed Sanusi Barkindo said: “Iran is not only a founding member of Opec, it’s a very important […]
United States’ sanctions on Iran’s oil industry are unproductive and there will be consequences to such a move, Russian Energy Minister Alexander Novak said. “Our position remains that this is unproductive; this is wrong,” Novak said when asked about the possible impact US sanctions on Iran’s oil industry could have, CNBC reported. “It is better […]
Europe will find a way to continue to import Iranian oil, against the express wishes of Trump and his cabinet. US President Donald Trump’s sanctions against Iran are looking increasingly like words rather than deeds as the largest economies in Europe collaborate on the creation of a ‘special purpose’ financial tool to circumvent Washington’s foreign policies in the Middle East. In open defiance of the […]
TEHRAN – The International Atomic Energy Agency (IAEA) on Monday renewed its assurances that the Islamic Republic of Iran stays compliant to the 2015 nuclear deal – aka Joint Comprehensive Plan of Action (JCPOA) – that is backed the UN Security Council Resolution 2231. “My report on Verification and monitoring in the Islamic Republic of […]