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The strategy would help reduce Europe'.s reliance on Russian gas. and the U.S. government is keen to increase energy exports.

Japan’s imports of Iranian oil increased by 10 percent in June compared to the same month last year.

Iran is now offering to insure oil cargoes to India after some insurers stopped providing the service in the face of the impending sanctions.

Al-Fahdavi served as energy minister of Iraq since 2014.

Erdogan confirmed on July 25th that its country will not take part in sanctions against Iran.

Iraq has failed to lure investors for the project. which includes building a refinery to process crude from the region.

The limits will go into effect as the U.S. prepares to reimpose sanctions on Iran beginning Nov. 4.

Despite soft trading last week. technical analysis points to plenty of upside before the end of 2018.

If India does not import crude from the US. the most likely fallout will be to buy from other OPEC countries.

The loss of Iran could pull millions of barrels off the market at a time when spare capacity is at a premium.