UAE firm denies Iran fuel import charges
Dubai, May 25, 2011
UAE-based Royal Oyster Group, one of the companies facing US sanctions for trade with Iran, denied it was involved in importing fuel into Iran.
"We think this is unfair," an executive at the company said on the condition of anonymity. "We knew there is no problem of exporting out of Iran, but there is problem in importing and we were on the export side."
"We were taking some base oils and bringing them to places like Oman, India and the UAE," he added.
The US has announced sanctions on Venezuela's state oil firm PDVSA and six other oil and shipping companies for engaging in trade with Iran in violation of ban, adding further pressure on the Islamic republic after the EU on Monday extended sanctions.-Reuters
More Energy, Oil & Gas Stories
- GCC firms consider Occidental Mena stake bid
- Experts discuss Mena energy markets outlook
- Saudi Nov output steady, pumps 9.745m bpd
- Libya lost $7bn to oil strikes, says minister
- Iran to start gas exports to Iraq by July 2014
- Taqa invites banks ahead of bond issue
- Dewa ups 2014 budget by $1.8bn from 2013
- Egypt govt pens energy debt payoff deal
- Qatar ready to invest in Turkey power project
- Asia gasoline margins set to plunge in 2014