Iran’s 50billion barrel oil find will bring little benefits while it remains under the weight of US sanctions, an analyst has said.
The Iranian supertanker detained last month on suspicion of hauling oil to Syria in violation of European sanctions set sail from Gibraltar waters after being released by the British territory and is now signaling Greece as its next destination.
Just as Venezuelan state-run oil company PDVSA was running out of an obscure product needed to thin out its crude and keep exports flowing in the wake of U.S. sanctions, Russia is coming to the rescue.
Serica Energy said today that the US had granted a conditional licence removing restrictions on production from a UK North Sea field.
A Russian oil company effectively barred from international capital markets by western sanctions has found an ingenious workaround. It involves a Moscow bank taking a detour to Dublin.
At least eight ships carrying fuel cargos from Russia are believed to have turned toward the communist state rather than their declared destination.
President Nicolas Maduro has claimed a popular mandate to dramatically revamp Venezuela’s political system, dismissing US sanctions imposed on him and condemnations by his domestic opponents.