Iran announced Wednesday that oil transactions with China are set to proceed next week. The head of the Iran-China Chamber of Commerce Asadollah Asgaroladi said Wednesday that the two countries have resolved issues relating to Beijing’s payments for Iranian oil imports by designating a Chinese bank to facilitate the exchanges. The United States has granted China a waiver to temporarily continue Iranian oil imports. Read More
Iran and China resume oil trade
Iran announced Wednesday that oil transactions with China are set to proceed next week. The head of the Iran-China Chamber of Commerce Asadollah Asgaroladi said Wednesday that the two countries have resolved issues relating to Beijing’s payments for Iranian oil imports by designating a Chinese bank to facilitate the exchanges. The United States has granted China a waiver to temporarily continue Iranian oil imports. Read More
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EXECUTIVE SUMMARY: Senior officials in the Trump administration have indicated that the sanctions recently imposed on the Islamic Republic were intended to significantly change its behavior. This declaration is inconsistent with its granting of an exemption to the eight countries – particularly China and India – that make up the bulk of Iranian oil exports. The administration’s decision reflects, among other things, the desire to avoid a shake-up in global oil prices and a pragmatic approach that allows room for maneuver for countries that are not ready to immediately halt their purchases of Iranian oil. However, the decision is being interpreted by Tehran as a sign of weakness and an achievement for Iranian foreign policy. Continue to full article -> Russian banks are finding ways to cope with Western sanctions, as a renewed focus on retail banking and greater reliance on state-backed investments fuels a profit boom. Andrey Kostin, chief executive of state-owned VTB, says Russian banks are being forced to rely on funding and projects from the state to maintain revenue streams in the face of the measures. – Wall Street Journal
Russia balks at Saudi efforts to slash oil supply
Russia seeks to avoid OPEC oil production cuts sought by Saudi Arabia and other members of the oil cartel, Reuters reported Thursday. The Saudis are concerned about the fall in oil prices as a result of decreased demand and high supply. Russian President Vladimir Putin dodged questions on whether OPEC should limit supply, but said he had discussed the situation with US President Donald Trump. Trump wants OPEC to keep the oil flowing following the resumption of energy sanctions on Iran. Saudi Arabia increased its oil supply following the sanctions but does not wish to make the increase permanent. Read More ![]()
World Leaders Come Together For Inaugural Global Energy Forum
quoting Condoleezza Rice, George P. Shultz via The Stanford Daily Bill Gates, Condoleezza Rice, Jerry Brown. CEOs, politicians, representatives and scientists. World leaders convened Thursday and Friday at the Hoover Institution for the inaugural Global Energy Forum to discuss the future of energy worldwide as the field continues to undergo major changes. The Gulf region’s future: Beyond oil and gas Karen E. Young | Internationale Politik Economic diversification has been a goal of all six Gulf Cooperation Council states for over a decade. The realization that the state can’t do everything is now central to government efforts at fiscal consolidation and planning for the future. But the old ways are not entirely in the past. Ahmad Majidyar writes: While the new sanctions are even broader in scope than those imposed on Iran during the Obama administration, there is a lack of international support to enforce the U.S. sanctions to their fullest potential. The Islamic Republic will most likely continue to defy U.S. pressure, in the hope that it can weather the impact of sanctions and outlast the Trump presidency. – Middle East Institute
Firas Elias writes: The powerful interconnections between Iran’s different media and intelligence agencies has been weaponized by the Supreme Leader of Iran, Ali Khamenei who is engaged in an ongoing publicity war with the outside world: the Ministry of Culture and Islamic Guidance provides the lexicon for speeches and revolutionary discourse, then the media disseminates this material in the form of news and media content, and finally, the Ministry of Intelligence mobilizes the material and social resources in order to bring this effort full circle. – Washington Institute |
AuthorSouthwest Asian political economy analyst, Radio & Media Personality. Archives
October 2023
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