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From Daily Alert re: trade with Iran

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Jun. 12, 2018

  • U.S. Sanctions on Iran Block Delivery of Korean Container Ships, Oil Tankers – Jhoo Dong-chan
    In December 2016, Hyundai Heavy Industries (HHI) signed a deal with Iran’s state-owned Islamic Republic of Iran Shipping Lines (IRISL) to build four container ships and six oil tankers for $700 million. Yet the world’s largest shipyard has not delivered a single vessel. “It is impossible for us to deliver the ships with U.S. sanctions back in position,” said an HHI official. (Korea Times)
  • See also Sanctions Hit Korean Refinery Projects in Iran Worth $5.6 Billion – David Rogers
    Korean contractor Daelim has cancelled a $2 billion contract to modernize a refinery in the Iranian city of Esfahan. After the U.S. decided to reimpose economic sanctions on Iran, Daelim was unable to secure the necessary funds to finance the project.
    Sanctions are also expected to hit a $3.6 billion deal involving Iran, Hyundai and Japan’s Chiyoda Corporation to construct the Siraf Refining Park in Bushehr province in southeastern Iran. The project was to have involved building eight refineries, increasing the capacity of Iran’s refining industry by 22% and expanding its petrochemical feedstock production by 57%. (Global Construction Review)
  • See also Indian Refiner Nayara Energy Cuts Iran Oil Imports – Nidhi Verma (Reuters)
  • See also Israeli Intelligence: U.S. Pressure on Iran Working Better than Expected – Amos Harel
    According to Israeli intelligence assessments, the chain reaction to the American decision to withdraw from the Iran nuclear deal has been more severe than originally forecast. (Ha’aretz)

(Click on the title of any article to see the whole article….Ed.)

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