Iran said on Tuesday it would stop oil exports if pressure from Western sanctions got any tighter and it had a "Plan B" contingency strategy to survive without oil revenues.
Western nations led by the United States have
The United States and Dubai are negotiating an end to the emirate's Iranian oil imports to head off the threat of US President Obama sanctioning a trade that has riled Gulf oil producers, industry sources and diplomats said.
Israeli Prime Minister Benjamin Netanyahu praised the European Union on Tuesday for ramping up sanctions against Iran, saying such measures were having a strong impact on the Iranian economy.
"I want to commend the EU for the
Iran will manage to bring its high inflation lower and return to growth next year despite Western sanctions over its nuclear programme, according to projections from the International Monetary Fund.
The IMF forecasts, which also i
Iran is using a little-known port off the East Malaysia coast to hide millions of barrels of oil from Western sanctions, according to shipping data, industry sources and officials.
A Reuters examination of shipping movements and i
Iran's oil exports are at their normal levels and are unaffected by Western embargoes, an Iranian oil official was quoted as saying on Sunday.
"We don't see anything abnormal, almost everything is progressing routinel
Iran said on Tuesday it had successfully tested medium-range missiles capable of hitting Israel in response to threats of military action against the country, Iranian media reported.
Israel says it could attack Iran if diplomacy fails to f
Brent crude climbed above $98 per barrel on Tuesday as escalating tensions between Iran and the West offset concerns that gloomy manufacturing data from China, the United States and Europe will hurt oil demand.
News that Iranian lawmakers
Kenya has agreed to import 4 million tonnes of Iranian crude oil per year, a senior Kenyan energy official said on Monday.
Patrick Nyoike, permanent secretary at the energy ministry, said the two governments signed the memorandum of unders
Iran, which faces tightening sanctions on its oil industry aimed at halting development of its nuclear programme, is looking to export more gas to India and Pakistan to make up for a fall in crude exports, a National Iranian Oil Company offic