techkenyot.com
techkenyot.com May 20, 2019


India in talks with US over sanctions waiver

15 March 2019, 07:32 | Glen Norman

India in talks with US over sanctions waiver

US President Donald Trump eventually aims to halt Iranian oil exports and thereby choke off Tehran's main source of revenue. — Reuters pic

The United States surprised the market in November past year by allowing eight countries to keep importing Iranian oil - in part causing Brent crude futures, the worldwide benchmark, to fall to near $50 a barrel in late December after surpassing $86 a barrel in October.

Brian Hook, the State Department's special representative on Iran, also said in remarks at an industry conference in Houston on Wednesday that Washington is pursuing its plan to bring Iranian crude exports to zero.

Earlier, the U.S. had granted significant reduction exemptions (SRE) to China, India, Italy, Greece, Japan, South Korea, Taiwan, and Turkey in November 2018 for a period of six months.

"Many big oil traders are very anxious about going into Iran due to Trump, and even the Chinese are trying to comply with what the Americans want", said Varzi, who is based in Britain.

Ten years ago, USA sanctions on oil from Iran and Venezuela would have significantly shaken up the market.

Climate change protest: Thousands of students marching across the UK
Now three MPs from Norway have put her forward for the prestigious prize, which was founded by Swedish industrialist Alfred Nobel. She had already challenged leaders in person at the United Nations climate summit in late 2018 and at Davos in January.

The global oil market is looking for signs that Washington may extend sanctions waivers for Iran's key customers in early May.

T he United States imposed sanctions on Iran in November after abrogating a nuclear deal in a dispute over Tehran's nuclear and missile ambitions, although India and other countries were exempted from the curbs.

Days after US sanctions on Iran's oil, shipping, and insurance industries returned in early November, the Special Representative for Iran Brian Hook said at a press briefing that "If Iranian tankers make calls to your ports or transit through your waterways, this comes at great risk".

Iran is on a discreet mission to procure second-hand oil tankers in order to keep exporting crude oil.

Washington in November provided waivers to eight economies that had reduced their purchases of Iranian oil, allowing them to continue buying it without incurring sanctions for six more months. Officials have also said that the oil shortage issue can be resolved by using other nations' tankers.

Sen. Cory Booker, Rosario Dawson are officially dating
While he kept secret his boo's name at the time, he did say she would make a good first lady. "He's an unbelievable human being". Dawson commented on the paparazzo's eagerness to get the inside scoop and then replied that she has no clue.

The administration is considering denying extension requests made by Italy, Greece and Taiwan - in part because they have not made full use of their waivers so far, one of the sources said.

Having its tankers flagged in Iran presents problems for Tehran - even if it can secure more vessels and approved buyers for its oil, shipping experts say. Since India also buys a lot of oil from Venezuela, the U.S. will struggle to convince India that it can do without much of its oil imports unless a new supplier emerges from thin air.

"India, China and Turkey - the three tough cases - will continue to negotiate with the administration and are likely to keep their waivers", one of the sources said.

Iran has been in discussions with South Korea to purchase several new super tankers, but the talks have gone nowhere as of yet.

Louis Tomlinson's teenage sister Felicite Tomlinson dies after suspected heart attack
Our deepest condolences are with Tomlinson and his entire family during this incredibly tragic time. The tragedy is a huge blow for Louis , who lost his mother, Johannah, to cancer in December, 2016.



Other News

Trending Now

YouTube Music arrives in India
If you don't mind with the advertisements while playing music, then the YouTube Music service will cost nothing. Whether you want to listen, watch or discover, it's all here", the company noted on an official press release.

Tesla Model Y launch price $39K - Completes Tesla's S3XY line up
Elon Musk, Chief Executive of Tesla has plans of selling more examples of Model Y as compared to Model 3 and Model S combined. As we long expected, the Tesla Model Y's front fascia is strikingly similar to the Model 3, it's four-door sedan sibling.

Pierre-Emerick Aubameyang Celebrates Second Goal vs. Rennes With Black Panther Mask
He immediately went behind the goal where he picked up a bag containing a mask of the popular Marvel character Black Panther. It's Black Panther and in Gabon we call the national team the Panther of Gabon, so it represents me, so yeah, that's it'.

Web inventor calls for 'fight' to protect internet on its 30th birthday
Jeff Jaffe, CEO of the World Wide Web Consortium , said , "There are very few innovations that have truly changed everything". He assured that the web foundation was working with governments, companies and citizens to make the web safer.

Iraq Looks To Boost Crude Oil Trading Business
USA crude oil exports have set annual record highs in each year since 2014, most recently averaging 2.0 million bpd in 2018. EIA's data also showed that on the exports side, US crude oil exports increased while domestic production rose as well.

Kane Williamson undergoes scan on injured shoulder
New Zealand's Neil Wagner (centre) celebrates the wicket of Bangladesh's Taijul Islam with team-mates on Tuesday. Tim Southee is captaining the side as Williamson has yet to return to the field with a shoulder injury.

The Sussexes get their own court as William and Harry split
Sara Latham, an American who is now managing partner at Freuds PR agency, was named as the duke's new communications chief. Meghan Markle sure is taking her Royal responsibilities seriously, the Duchess reportedly held a secret meeting with Dr.

At Least 4 Dead As Pedestrian Bridge Collapses
Following the mishap, the civic body made a decision to undertake a structural audit of all the bridges in the city. Famous cricketer Sachin Tendulkar also took to Twitter and prayed for those who were injured in the bridge collapse.

Boeing 737 Max groundings not expected to impact Syracuse travelers
Experts say other possible causes of the crashes are being investigated, including other malfunctioning systems and pilot error. However, the FAA said this week it had mandated that Boeing update its flight software and training on the aircraft.

Durban rescuers lend a hand to Mozambique as Cyclone Idai approaches
In Mozambique, 111 people have been injured, 18 hospitals destroyed, 938 classrooms destroyed and 9,763 students affected. The Civil Protection Unit evacuated more than 700 people who were marooned by floods in the district.