The United States designated 15 individuals and entities involved in the illicit sale and shipment of Iranian petroleum, petroleum products, and petrochemical products. These entities, located in Iran, Vietnam, Singapore, the United Arab Emirates (UAE), and Hong Kong, have supported Iran’s energy trade that generates millions of dollars in illicit revenue.
The State Ministry appointed a Vietnam -based entity, Truong Phat Loc Shipping Trading JSC, to engage in the shipment of petroleum products from Iran. Truong Phat Loc Shipping Trading JSC becomes the commercial and technical manager for ships that transport Iranian petroleum products. The Ministry of Foreign Affairs also appointed a Singapore -based entity, Everwin Ship Management Pte. Ltd., which is engaged in the transportation of Iranian petroleum products. Everwin Ship Management Pte. Ltd. served as technical manager for ships that transport Iranian petroleum products. In addition, the Foreign Ministry appointed three Iranian-based entities, Zagros Tarabaran-E Arya, Persian Gulf Star Oil Company, and East Ocean Rashin Shipping Co. Ltd., which has conducted sales and / or shipments of Iranian petroleum products. Zagros Tarabaran-E Arya is a shipper of Iranian petroleum products, while the Persian Gulf Oil Company is the largest producer of gas condensate in Iran, and as such, is directly involved in the production of Iranian petroleum products. East Ocean Rashin Shipping Co. Ltd. is an agent of the ports and freight forwarders of Iranian petroleum and petrochemical products. This action was taken in accordance with Executive Order 13846.
In addition, the Treasury Department designated eight entities and two individuals located in Iran, Hong Kong, and the UAE, which support the continued participation of Naftiran Intertrade Company, Iran Petrochemical Company, Persian Gulf Petrochemical Industry Commercial Company, Triliance, and Behran Oil in sales Iranian petroleum and petroleum products abroad.
The United States has been sincere and steadfast in pursuing a meaningful diplomatic path to achieve mutual return to the full implementation of the Joint Comprehensive Plan of Action (JCPOA). It is Iran that, until now, failed to show the same commitment to that path. There is no change in the course of Iran, we will continue to use our sanctions authority to target exports of petroleum, petroleum products, and petrochemical products from Iran.
For more information on today’s action, please see the Treasury Department’s press release.
What does the US get from Iran?
The top three U.S. imports from Iran, also by value, are books, brochures, (2) non -hardened vulcanized rubber, and (3) medical devices. By tonnage, the top three U.S. exports are (1) Medical Devices, (2) Drugs in individual doses, and (3) Misc. medical chemical recycling agents.
What are Iran’s main exports? Oil and natural gas are Iran’s most important exports, accounting for 82 percent of the country’s export earnings. Other exports include chemicals, plastics, fruits, ceramic and metal products. To see also : FSIS Issues Public Health Alert For Unauthorized Siluriformes Products Taken From Korea | Food Security and Service Inspection. Iran’s main export partners are: China (21 percent of total exports), Japan (9.2 percent) and Turkey (9 percent).
What does the US import from Iran?
In April 2022, the major U.S. imports from Iran were Brochures ($ 4k), Other Rubber Products ($ 1.52k), Newspapers ($ 0), Other Printed Materials ($ 0), and Leather Shoes ($ 0).
What is US relationship with Iran?
The United States and the Islamic Republic of Iran have not had formal diplomatic relations since then. Switzerland is a U.S. protectionist force and provides limited consular services to U. Read also : Read the 9 Page Media Package Used by Lifestyle Creator to Find Brand Deals.S. citizens in Iran. Iran does not have an embassy in Washington, D.C.
What is the US issue with Iran?
The United States cites severe ties with the 1979–81 Iran hostage crisis, Iranian human rights abuses that have persisted since the Islamic Revolution, its growing influence in the Middle East and its nuclear program. Read also : Tensions between the United States and Iran could rise this summer. Since 1995, the United States has had an embargo on trade with Iran.
Why is the US not using its own oil?
The reason that U.S. oil companies don’t increase production is simple: They decide to use billions of profits to pay dividends to CEOs and shareholders who are rich and simply don’t choose to invest in new oil production.
Why does the US need oil from other countries? Although annual U.S. petroleum exports will be larger than total petroleum imports in 2020 and 2021, the United States continues to import some petroleum and petroleum products from other countries to support domestic demand for petroleum and supply international markets.
Can the US rely on its own oil?
The US does produce enough oil to meet its own needs. According to the U.S. Energy Administration (EIA), by 2020 America will produce 18.4 million barrels of oil per day and consume 18.12 million. But the same report revealed that the U.S. imported 7.86 million barrels of oil per day last year.
Why doesn’t us use their own oil?
He told Newsweek that the U.S. uses more barrels of oil per day than it produces, needing imports from abroad. “U.S. imports oil because of the consumption of oil products – about 20 million barrels per day is greater than the quantity of petroleum that is produced, about 18 million barrels per day,” Kaufmann said.
Can Iraq produce more oil?
Iraq cannot increase oil exports to respond to soaring global oil prices and supply disruptions related to Russia, Deputy Prime Minister Ali Allawi said on April 19 during a visit to Washington, improving OPEC + ’s ability to boost output to balance production. the shortcomings that have helped lift …
How long will Iraqi oil last? Iraq has proven reserves equal to 457.4 times its annual consumption. This means that, without Net Exports, there would be about 457 years of oil left (at current consumption levels and not including unproven reserves).
Does Iraq sell oil?
The Iraqi Ministry of Petroleum said the country exported more than 100 million barrels for revenue of $ 11.07bn, the highest since 1972. The Iraqi Oil Ministry said it exported $ 11.07bn of oil in March, the highest level in 50 years, when petroleum prices rose in the wake. of the Russian invasion of Ukraine.
Does Iraq still export oil?
The Iraqi economy relies heavily on petroleum exports, which account for more than 90 percent of the country’s revenue.
Will Iraq increase oil production?
MANAMA, May 16 (Reuters) – Iraq aims to increase its oil production to 6 million barrels a day by the end of 2027, the oil minister said on Monday at an industry event.
