Iranian sanctions supports Chinese cause for the Petro-Yuan

Iran is not short of heavyweight supporters following the decision to re-impose strong sanctions on the country by the US. Although Europe works to salvage what it can of the JCPOA, most likely going down the ex-US route, President Trump’s decision on 12 May will still likely cause a retrenchment of European investment into Iran given the far reaching implications for any company (US or not) with a connection to the country. The Chinese and Indians...

Read More

Total to pull out of Iranian mega gas project if sanction waivers not granted

Total has warned that it will pull out of the giant South Pars development offshore Iran if it is unable to secure sanction waivers. The imposition of sanctions would be crippling for Total as it would completely lock it out of any US related activity including the ability to access the capital markets. Should Total pull out, partner CNPC will take over Total’s 50.1% stake and operatorship of the project under a previous agreement...

Read More

Obama Administration to bypass Congress on deal with Iran?

Obama Administration reported plan to bypass Congress on a deal with Iran Administration’s plan to suspend economic sanctions against Iran without a vote in Congress …Administration says Congress will have final say in whether to permanently lift sanctions Permanent sanctions would only be lifted if Tehran demonstrates compliance with restrictions on its nuclear programme …and Iran must make sufficient progress in conceding its...

Read More