Subscribe free to our newsletters via your
. 24/7 Space News .




ENERGY TECH
Iran slams new 'hostile' US sanctions on oil exports
by Staff Writers
Tehran (AFP) Feb 6, 2013


Iran on Wednesday slammed as "hostile" new US sanctions aiming to prevent importers from buying Iranian oil using foreign currencies, saying it will seek to circumvent the measures.

The US sanctions, which took effect on Wednesday, come as Tehran and world powers gear up to hold talks on the Islamic republic's disputed atomic programme later this month.

The measures will compel Iran to engage in barter arrangements with importers of its oil, meaning the buyers will have to put money into escrow accounts accessible by Iran to purchase goods from the oil-importing country.

Those that fail to comply with the rule risk expulsion from the US banking system.

"This is the latest ring in the series of hostile actions against Iran," Iranian foreign ministry spokesman Ramin Mehmanparast said of the new punitive measures.

"We are seeking methods to neutralise the new pressure," he said, quoted by Mehr news agency.

But he said the sanctions would actually lead to increased trade with countries that import its oil, especially those with which Iran already has regular trade links.

"We could double the trade volume with the countries importing our oil... (for example) we export five, 10, or 20 billion dollars worth of oil, and instead we can receive the needed goods," said Mehmanparast.

Iran imported goods worth nearly $43 billion during the past 10 months, according to the customs authorities.

It has already put in motion initiatives to facilitate its barter arrangements and set up a "barter committee" for the private sector, deputy trade minister Hamid Safdel was quoted as saying by Mehr on Tuesday.

Iran is under several rounds of sanctions by the United Nations, the United States and the European Union, which accuse Tehran of developing a military capability under the guise of a civilian nuclear programme.

Iran denies these accusations, saying its atomic programme is purely peaceful.

The US sanctions come ahead of a meeting between Iran and six world powers -- the United States, Britain, France, Russia, China and Germany -- in Kazakhstan on February 26 for talks on the programme.

The last of such efforts ended in a stalemate in Moscow eight months ago, when Iran refused Western demands to curb its activities and asked for substantial sanctions relief.

Mehmanparast, meanwhile, said Iran was striving to remove "in the near future" its dependency on petrodollars, already hit by an EU oil embargo.

The measure, which entered into effect in July, ended European purchases of Iranian crude, and has since decreased Tehran's oil exports to its Asian customers from between 10 to 30 percent.

The Organisation of Petroleum Exporting Countries and the International Energy Agency say Iranian crude exports have fallen from about 2.4 million barrels per day in late 2011 to some 1.0 mbpd at the end of 2012.

Oil Minister Rostam Qasemi said last month that Iran's repatriation of its crude was slashed 45 percent in the final nine months of 2012.

.


Related Links
Powering The World in the 21st Century at Energy-Daily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








ENERGY TECH
All-Brazilian heavy oil output under way
Porto Do Rio Grande, Brazil (UPI) Feb 5, 2013
An all-Brazilian heavy oil operation is under way with every stage of the extraction, output, storage and supply reported to have been conducted with local expertise. Brazilian state oil company Petrobras and partners have been talking of achieving the feat for several years - under the former presidency of Luiz Inacio Lula da Silva and as part of the current agenda of President Dilma ... read more


ENERGY TECH
Building a lunar base with 3D printing

US, Europe team up for moon fly-by

Russia to Launch Lunar Mission in 2015

US, Europe team up for moon fly-by

ENERGY TECH
Sampling Several Rock Targets

Mapping Mars

Weekend Test on Mars Was Preparation to Drill a Rock

AAS Division For Planetary Sciences Issues Statement On Mars 2020 Program

ENERGY TECH
Supersonic skydiver even faster than thought

Ahmadinejad says ready to be Iran's first spaceman

Iran's Bio-Capsule Comes Back from Space

A Hero For Humankind: Yuri Gagarin's Spaceflight

ENERGY TECH
Reshuffle for Tiangong

China to launch 20 spacecrafts in 2013

Mr Xi in Space

China plans manned space launch in 2013: state media

ENERGY TECH
NASA to Send Inflatable Pod to International Space Station

ISS to get inflatable module

ESA workhorse to power NASA's Orion spacecraft

Competition Hopes To Fine Tune ISS Solar Array Shadowing

ENERGY TECH
Final checkout underway for the Starsem Soyuz launch with Globalstar spacecraft

Zenit Engine Worked Normally

NASA Launches Rocket from Wallops Flight Facility in Virginia

Intelsat 27 Launch Unsuccessful

ENERGY TECH
Earth-like planets may be closer than thought: study

Are Super-Earths Actually Mini-Neptunes?

Herschel Finds Past-Prime Star May Be Making Planets

Stars can be late parents

ENERGY TECH
Largest prime number to date found

South Korean Satellite Makes First Contact with Ground

Novel materials shake ship scum

Penn Research Shows Mechanism Behind Wear at the Atomic Scale




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement