Iran Oil

Calling India a rising power and a powerful economy, Iranian Envoy to India Iraj Elahi said that India is strong enough to resist the pressure of the West as it resisted the pressure of buying oil from Russia.

In September, the United States imposed new sanctions on companies involved in Iran oil exports, including five based in China.

Iranian Envoy Dr Iraj Elahi on Friday said despite US sanctions Tehran is ready to supply oil to India as both countries have close ties.

A day after External Affairs Minister S Jaishankar's visit, the United States sanctioned an Indian company for purchasing Iranian petroleum and petrochemicals.

Iran completed its first official cryptocurrency-based import order this week, according to a report. The move could enable the country to circumvent crippling US sanctions, which include a ban on all imports, including those from the country's oil, banking, and shipping sectors.

Oil prices dipped in early trade on Tuesday on the latest progress in last-ditch talks to revive the 2015 Iran nuclear accord, which would clear the way to boost its crude exports in a tight market.

The US Treasury said Wednesday it was freezing the assets of members of an international network for violating oil sanctions on Tehran by selling millions of dollars' worth of Iranian petrochemical products to East Asia.

Tehran seized the Greek ships on Friday after Athens impounded the Iranian-flagged Pegas in April. The United States, which has imposed a tough sanctions regime on Iran, confiscated the Iranian oil cargo that was on the Pegas.

Iran summoned the envoy of Switzerland, which represents U.S. interests in Tehran, to protest against the U.S. seizure of Iranian oil from a Russian-operated ship near Greece, the foreign ministry said in a statement quoted by Iranian media.

Iranian forces seized two Greek tankers in the Gulf, shortly after Tehran warned it would take "punitive action" against Athens over the confiscation of Iranian oil by the United States from a tanker held off the Greek coast.

The rise in oil prices comes after the US announced new sanctions on Iran, and as energy markets stayed focused on supply concerns that have sent prices soaring this year.

The leaders of Britain, France, Germany and the United States will hold four-way talks Tuesday on Iran's nuclear programme, the French presidency said, with Tehran's oil exports as one of the issues to be raised.

The move has raised tensions with the United States and other countries negotiating with Iran over its nuclear program, and will likely keep sanctions in place and Iranian oil out of the global market for longer.

The case arose when Greece in April impounded the Iranian-flagged Lana, formerly Pegas, with 19 Russian crew members on board, near the island of Evia due to European Union sanctions.

The United States imposed sanctions on Thursday on Chinese and Emirati companies and on a network of Iranian firms that help export Iran's petrochemicals, a step that may raise pressure on Tehran to revive the 2015 Iran nuclear deal.

Calling India a rising power and a powerful economy, Iranian Envoy to India Iraj Elahi said that India is strong enough to resist the pressure of the West as it resisted the pressure of buying oil from Russia.

In September, the United States imposed new sanctions on companies involved in Iran oil exports, including five based in China.

Iranian Envoy Dr Iraj Elahi on Friday said despite US sanctions Tehran is ready to supply oil to India as both countries have close ties.

A day after External Affairs Minister S Jaishankar's visit, the United States sanctioned an Indian company for purchasing Iranian petroleum and petrochemicals.

Iran completed its first official cryptocurrency-based import order this week, according to a report. The move could enable the country to circumvent crippling US sanctions, which include a ban on all imports, including those from the country's oil, banking, and shipping sectors.

Oil prices dipped in early trade on Tuesday on the latest progress in last-ditch talks to revive the 2015 Iran nuclear accord, which would clear the way to boost its crude exports in a tight market.

The US Treasury said Wednesday it was freezing the assets of members of an international network for violating oil sanctions on Tehran by selling millions of dollars' worth of Iranian petrochemical products to East Asia.

Tehran seized the Greek ships on Friday after Athens impounded the Iranian-flagged Pegas in April. The United States, which has imposed a tough sanctions regime on Iran, confiscated the Iranian oil cargo that was on the Pegas.

Iran summoned the envoy of Switzerland, which represents U.S. interests in Tehran, to protest against the U.S. seizure of Iranian oil from a Russian-operated ship near Greece, the foreign ministry said in a statement quoted by Iranian media.

Iranian forces seized two Greek tankers in the Gulf, shortly after Tehran warned it would take "punitive action" against Athens over the confiscation of Iranian oil by the United States from a tanker held off the Greek coast.

The rise in oil prices comes after the US announced new sanctions on Iran, and as energy markets stayed focused on supply concerns that have sent prices soaring this year.

The leaders of Britain, France, Germany and the United States will hold four-way talks Tuesday on Iran's nuclear programme, the French presidency said, with Tehran's oil exports as one of the issues to be raised.

The move has raised tensions with the United States and other countries negotiating with Iran over its nuclear program, and will likely keep sanctions in place and Iranian oil out of the global market for longer.

The case arose when Greece in April impounded the Iranian-flagged Lana, formerly Pegas, with 19 Russian crew members on board, near the island of Evia due to European Union sanctions.

The United States imposed sanctions on Thursday on Chinese and Emirati companies and on a network of Iranian firms that help export Iran's petrochemicals, a step that may raise pressure on Tehran to revive the 2015 Iran nuclear deal.