Iran Focus

London, 12 Sep – Iran may be turning towards China for support as US sanctions put pressure on the Gulf nation, because Chinese businesses are eager to build relationships with Iran, as Western businesses leave, and China is one of the biggest importers of Iranian oil, something that will come under U.S. sanctions in November.

A. Tabatabai, an associate political scientist. who recently co-authored a book exploring Iran’s ties with China and Russia, said: “[Iran] has had to rely on China to offset the Western-induced isolation, predominantly championed by the United States. I think that what we’re going to see is the return of a quasi-monopoly of key sectors of the Iranian economy by the Chinese.”

Iran Focus

London, 12 Sep – Earlier this year, the head of Iran’s Petroleum Engineering and Development Company spoke about the country’s plans to relocate the nation’s main oil export tunnel from Kharg Island in the Persian Gulf to Bandar-e-Jask in the Oman Sea. He said that the Bandar-e-Jask port will be ready during the course of 2021 and that it would have the capacity to hold around 30 million barrels of crude oil. The CEO of the company also said that it would be able to export one million barrels per day (bpd) from there.

Iran Focus

London, 12 Sep – The United States has issued a new safety warning to airlines about operating in Iranian airspace, citing concerns over military activity following the interception of an unnamed US passenger aircraft by Iranian fighter jets in December 2017.

The Federal Aviation Administration issued its updated guidance to US airlines on Sunday, as the previous year’s advisory expired, and warned about the need for airlines to use caution when travelling in Iranian airspace. They also said that the conflict in Syria could put commercial flights to, from, and through Iran’s airspace in danger of military action.

Iran Focus

London, 11 Sep – Late last week, market participants said that with US sanctions on Iranian crude going into effect shortly, loadings from Iran are still ongoing, and some shipping companies view it as an opportunity to get hefty premiums.

A chartering executive in Houston said, “Iranian crude loadings for export will continue even after the US sanctions are fully implemented. It will not stop completely. Somehow companies will manage to [ship out].” He added that new companies with no connection to the US banking, insurance, or currency systems might be created to continue Iran-related businesses without contravening US laws.