Foreign tankers quietly return to Iran
Baku, Azerbaijan, May 15
By Fatih Karimov - Trend:
A top Iran oil official says that during last year, Japanese tankers returned to Iran, but during the last few months, Turkish and Chinese tankers have come back to Iran's ports increasingly.
According to the interim nuclear accord, achieved in November 2013, the West eliminated sanctions on oil tanker insurance, which was imposed in mid-2012.
The report says that despite elimination of insurance-related sanctions and signing several memorandums of understandings and documents with Europeans, not all sanctions related to bank sector, insurance, and oil transit have been lifted.
A top official told Mehr News Agency anonymously on May 15 that the contracted tankers with Iran's client refineries in Japan have returned to Iranian ports since last year, while the contracted tankers of Chinese and Turkish refiners also started coming back to transit Iranian oil recently.
China and Turkey are Iran's first and fifth major oil clients, but Iran has had to deliver its oil to their refineries by Iranian tankers due to sanctions since mid-2012.
The insurance problem has caused disruption in supplying Iranian oil to its clients. Iran's oil export volume was 2.5 million barrels per day (mb/d) in 2011, but the figure decreased by 60 percent to around 1.1 mb/d currently.
China, India, Japan, South Korea and Turkey are Iran's crude oil clients.
Iran and P5+1 (the U.S., UK, France, Russia, China plus Germany) are negotiating to reach a comprehensive nuclear deal to pave the way for lifting all economic sanctions on Iran.
The Middle East country is to resume its oil export to pre-sanction level gradually.
Edited by CN