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| Syria-Lebanon-Iran |
| Russia resumes gasoline sales to Iran |
| 2010-08-12 |
| [Al Arabiya Latest] Russian oil giant LUKOIL has resumed gasoline sales into Iran in partnership with China's state-run firm Zhuhai Zhenrong, even as the United States urges the international community to be tough with Tehran. Iran is the world's fifth-largest oil exporter but lacks adequate refining capacity to meet domestic demand for motor fuel, forcing it to import up to 40 percent of its requirements. Russia and China, both permanent members of the U.N. Security Council, signed up to the latest round of U.N. sanctions on Iran, but refused to support measures that targeted the Islamic Republic's oil and gas sector. The U.S. has since passed additional unilateral sanctions allowing it to penalize fuel suppliers to Iran, measures criticized by both Beijing and Moscow. Moscow is struggling to balance trade ties with Tehran and warmer relations with the United States, which is eager for Kremlin support to rein in Iranian nuclear activities Washington says it believes are aimed at developing a nuclear bomb. In July, Russia's energy minister Sergei Shmatko said Russian companies would be ready to supply fuel to Iran if there were commercial interest and attractive terms. LUKOIL has the largest U.S. presence among Russian firms. In April, it joined a growing list of companies that halted shipments as sanctions loomed. Then sources familiar with the company said traders involved in gasoline trading with Iran at the Russian energy giant had received verbal direction from senior management to halt business activity. But LUKOIL's trading arm, Litasco, and Zhenrong discharged a 250,000-barrel gasoline cargo at the Iranian port of Bandar Abbas last week, industry sources said. Geneva-based Litasco was expected to ship a second cargo of the motor fuel to Bandar Abbas later this week, traders said. A LUKOIL spokesman said "one-off deliveries (to Iran after it decided to stop the shipments in spring) took place within the frame of previously signed contracts." The spokesman declined to give more details. It was unclear if either of these shipments to Bandar Abbas formed part of the previously signed contracts. Chinese companies have delivered about half of Iran's gasoline imports in recent months. State-run Zhenrong is the single largest lifter of Iranian crude oil. |
| Posted by:Fred |
| #1 Ee should have a high level meeting with the Russians and explain to them that is would be a shame if the 'stan & Chechen rebels suddenly got powerful hi-tech weapons capable of downing helicopters and planes like what happened to them in Afghanistan. |
| Posted by: Mike Hunt 2010-08-12 16:28 |