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Sanctions Waiver

All articles tagged with #sanctions waiver

business2 months ago•394 min saved

Oil dips below $75 as Iranian waiver tempers sanctions pressure

U.S. crude fell about 2.7% to around $74 a barrel, slipping below $75 for the first time since March after a 60-day sanctions waiver on Iranian oil was announced; Brent dropped to about $77 as traffic through the Strait of Hormuz begins to recover (weekend average ~23 transits, with 17 Sunday, 35 Saturday, 19 Friday), though volumes remain well below prewar levels. Markets also noted a retreat in other commodities, including a roughly 50% drop in urea prices, while signaling that tensions in the region could still drive volatility ahead.

via NBC News|

#business #iran-sanctions #oil

world5 months ago•3 min saved

India to Keep Buying Russian Oil, Says No Outside Permission Required

India said it will continue importing Russian oil and has never depended on permission from any country to buy Russian crude, despite a temporary U.S. sanctions waiver that allows the sale of stranded oil to Indian buyers. New Delhi maintains Russia remains India’s largest crude supplier and says it is well stocked to weather disruptions as global energy markets react to the Iran conflict.

via The Moscow Times|

#india #iran #oil

international-relations2 years ago•4 min saved

"Biden Administration Grapples with Iran Sanctions Relief Decision Amid Congressional Pressure"

The Biden administration has renewed a sanctions waiver allowing Iran to access over $10 billion in frozen funds, drawing fierce GOP opposition. The waiver permits Iraq to transfer electricity payments to Iran via third-party countries, with the State Department insisting the funds can only be used for humanitarian supplies. However, critics argue that the waiver frees up cash for Iran's global terrorism operations, prompting concerns about the regime's support for terrorist groups. Republican lawmakers are pushing for legislation to cut off Iran's access to previously frozen funds.

via Washington Free Beacon|

#biden-administration #gop-opposition #international-relations

international-relations2 years ago•2 min saved

"Biden Administration Faces Backlash for Allowing Iran Access to Billions Amidst Criticism"

The Biden administration has extended a sanctions waiver allowing Iran to access approximately $10 billion from Iraq for electricity purchases. The waiver, signed by Secretary of State Antony Blinken, is identical to the one issued in July. The funds, held in escrow accounts in Iraq, can only be used for humanitarian trade. The extension also permits Iran to transfer the electricity payments to accounts in Oman, which can then be converted to other currencies for non-sanctioned purchases. US officials argue that the waiver is necessary to prevent Iraq from losing a critical source of energy. The State Department defends the extension, stating that the funds can only benefit the Iranian people and that Iran would continue its destabilizing activities regardless of the waiver.

via New York Post |

#biden-administration #electricity-purchases #international-relations