Iran’s Military is Ready to Protect Oil Tankers Against Threats, Deputy Commander

DUBAI, Nov 12 (Reuters) - Iran's armed forces will protect Iranian oil tankers against any threats, an Iranian military official said on Monday after the United States called the ships a "floating liability" and warned ports operators not to allow them to dock. The United States resumed sanctions on Iran's oil, shipping and banking industries last Monday after U.S. President … [Read more...]

U.S. Allowing Waivers for Eight Importers from Iran Oil Sanctions

By Arshad Mohammed, Lesley Wroughton and Patricia Zengerle WASHINGTON, Nov 2 (Reuters) - The United States said on Friday it will temporarily allow eight importers to keep buying Iranian oil when it reimposes sanctions on Monday to try to force Iran to curb its nuclear, missile and regional activities. U.S. Secretary of State Mike Pompeo, who announced the decision, did not … [Read more...]

Rocked by Trump’s Sanctions, Iranian Oil Exports Drop Further

By Alex Lawler LONDON, Oct 8 (Reuters) - Iran's crude exports fell further in the first week of October, according to tanker data and an industry source, taking a major hit from U.S. sanctions and throwing a challenge to other OPEC oil producers as they seek to cover the shortfall. The Islamic Republic exported 1.1 million barrels per day (bpd) of crude in that seven-day … [Read more...]

Iran Returns to Floating Storage for Its Oil as Buyers Retreat

By Anthony DiPaola, Julian Lee and Alex Longley (Bloomberg) -- Iran is starting to store oil on its fleet of supertankers again as impending U.S. sanctions force the Persian Gulf country to revive a strategy it deployed under previous curbs. The build-up of crude in floating storage offshore Iran signals the effectiveness of the new sanctions imposed by U.S. President Donald … [Read more...]

U.S. Navy Conducts Military Exercises in Gulf Amid Iran Tension

By Zainab Fattah (Bloomberg) -- The U.S. Navy is conducting exercises this month to ensure its readiness to guarantee freedom of movement through Persian Gulf and Red Sea waterways amid escalating threats from Iran to disrupt shipping across important choke points. The exercises, with regional and global allies, are part of the U.S. 5th Fleet Theater Counter Mine and … [Read more...]