Tag Archives: Iran

The second round of embargo will be reimposed in early November with the aim of curtailing Iran'.s oil exports and shipping sectors.

Such decision was due to Washington'.s announcement that it would impose sanctions on enterprises making business with this Islamic republic.

CNPC has now a 30 percent stake. while PetroPars holds the remaining 19.9 percent.

The two sides underlined the resolve of both sides to pursue the agreements reached during a joint commission meeting.

President Trump earlier this year announced the U.S. is re-imposing sanctions on Iran that will include Iranian oil sales.

Iran and China. along with Russia and Turkey. are drawing closer due to the intertwined issues of geopolitics and energy.

Iran is the third-largest oil producer in the Organization of the Petroleum Exporting Countries after Saudi Arabia and Iraq.

Today. many Iraqi cities have security and stability. which alleviates the fear and risk of investment for foreign companies.

Both sides stressed the importance of the need to intensify mutual visits.

Oil sanction is part of Trump'.s plan to pressure Iran to give more concessions than what were agreed upon in the JCPOA.