Cosmo Oil has started loading its first Iranian crude oil cargo, the latest Japanese refiner to resume import of Iranian oil more than two months after the US sanctions waiver was granted.
The European Commission said it’s seeking to launch “very soon” a special purpose vehicle to help European companies bypass U.S. sanctions on Iran, with three European diplomats saying the official unveiling could come as early as Monday.
The offer is part of an existing contract between state-run Chinese energy giant Sinopec and the National Iranian Oil Company to operate the lucrative Yadavaran oilfield in the Islamic Republic's southwestern area.
The Indian pharma industry now has an opportunity to increase exports to Iran, following a rupee payment mechanism agreed upon recently by India and Iran.
