News Oil 

SABITI oil tanker, hit in Red Sea, to undergo repair

“Two separate explosions, possibly caused by missile attacks, hit the SABITI oil tanker owned by the National Iranian Tanker Company (NITC)” reports tehrantimes.com. TEHRAN – Iran Shipbuilding and Offshore Industries Complex Co (ISOICO) will repair the SABITI oil tanker, which came under attack in the Red Sea on October 11, the ISOICO managing director has said.Rezaeian-Asl also said that attack on the Iranian oil tanker, which has reported arrived in the port city of Bandar Abbas, was against international law.The explosions hit the vessel’s hull, causing heavy damages to the…

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GBP News 

Path for legal trade with Iran open: BICC

“TEHRAN – Vice-President of the British-Iranian Chamber of Commerce (BICC) Richard Dalton said on Friday that the channel for legal trade with Iran is still open despite U.S. sanctions against the country” reports tehrantimes.com. The meeting was attended by representatives of the British Ministry of International Trade, chambers of commerce of the two countries and British and Iranian trade companies, entrepreneurs, and Iran’s ambassador to London Hamid Baeedinejad.Deploring EU’s procrastination for implementing their commitments under the JCPOA and inability to bypass the sanction, he said that however, trade with Iran…

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News Oil 

US launched cyberattack against Iran after Saudi oil strike, says report

“The US reportedly carried out a cyberstrike against Iran following attacks against Saudi oil facilities in September” writes Carrie Mihalcik for cnet.com. The cyberattack, which reportedly took place in late September, appears to be in response to drone and missile attacks on key oil facilities in Saudi Arabia that US officials have said came from Iran. The US also reportedly launched a cyberattack in June to wipe out a database that many have been used by Iran’s paramilitary arm to devise attacks against oil tankers. Source: cnet.com

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News Oil 

carried out a secret cyber operation against Iran in the wake of the Sept. 14 attacks on Saudi Arabia’s oil facilities

“The United States, Saudi Arabia, Britain, France and Germany have publicly blamed the Sept. 14 attack on Iran, which denied involvement in the strike” writes Min Read for reuters.com. WASHINGTON (Reuters) – The United States carried out a secret cyber operation against Iran in the wake of the Sept. 14 attacks on Saudi Arabia’s oil facilities, which Washington and Riyadh blame on Tehran, two U.S. officials have told Reuters.Tensions with Iran have been high since the Sept. 14 attack.The attack highlights how President Donald Trump’s administration has been trying to…

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News Oil 

U.S. ‘Deeply Concerned’ About Untrackable China Ships Carrying Iran Oil

“It was not clear what the Trump administration could do to stop the tankers from turning off transponders” writes Timothy Gardner for reuters.com. It has warned shipping companies, energy companies and port officials to be wary of trade in Iranian oil, in some cases telling them they could face sanctions for doing so.The administration believes that sanctions are on the verge of causing an economic depression in Iran, one of the officials said.Trump tightened U.S. sanctions in May in an effort to drive Iran’s oil sales to zero.Its oil exports…

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Markets News 

Iran’s economy won’t wait for Europe: TCCIMA head

“The German government has tried to support German companies, but since the U.S. market is so important to German companies, we cannot fully protect them against sanctions,” Schnackenberg said” reports tehrantimes.com. The Iranian economy has no choice but to turn from the West and look for eastern partners,” Masoud Khansari said in an Iran-Germany business forum in Tehran on Wednesday.She stressed the U.S. sanctions to be the biggest problem in the way of Iran-Germany economic relations, saying “Unfortunately, German companies have the most exports to the U.S. market and statistics…

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News 

Rouhani: Only Syrian army is able to provide security at border with Turkey

“Iranian officials insist that the maximum pressure policy has failed” reports tehrantimes.com. He noted that the Iranian people have defeated sanctions and policy of maximum pressure.Elsewhere in his remarks, Rouhani said that the U.S. policy of “maximum pressure” has failed and will not affect Iran anymore. “Today, all the statistics and also the people’s spirit show that the time that the maximum pressure affected is gone,” he opined. Source: tehrantimes.com

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News 

Abu Dhabi crown prince, top Saudi defense official discuss military, defense matters

“The conflict is widely seen as a proxy war between Saudi Arabia and Iran” writes Midwest Communications Inc for 95kqds.com. CAIRO (Reuters) – The de facto ruler of the United Arab Emirates held talks with Saudi Arabia’s deputy defense minister in Abu Dhabi on Sunday on military and defense matters and regional security at a time of heightened tensions with common foe Iran. Source: 95kqds.com

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News Oil 

Iran says Chinese state oil firm withdraws from $5B deal

“Iran cancelled another CNPC contract in 2012 amid increasing international sanctions which led to the 2015 nuclear deal” writes The Associated Press for seattletimes.com. Iran has since begun breaking terms of the nuclear deal.Tensions reached their height on Sept. 14, with a missile and drone attack on the world’s largest oil processor in Saudi Arabia and an oil field, which caused oil prices to spike by the biggest percentage since the 1991 Gulf War.After withdrawing from the nuclear deal with Tehran over a year ago, the U.S. imposed sanctions on…

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