![]() European oil companies will be forced to sever all dealings in Iran crude by July. Ship industry players say the move last month by the European Union to embargo imports of Iranian oil was already having an effect on shipping flows. Iran’s national shipping fleet is coming under ever more pressure as many states attempt to monitor its cargoes, while the role of the central bank as a middle man is becoming increasingly redundant in business transactions,” he added. ![]() ![]() “The net is closing in, and companies will be forced to take ever more elaborate measures to evade scrutiny. “Tougher sanctions are putting the squeeze on major Iranian commercial institutions,” said Alan Fraser of security firm AKE. financial sanctions imposed since the beginning of this year to punish Tehran over its nuclear programme are playing havoc with Iran’s ability to buy imports and receive payment for its oil exports. Oil tankers are used to ferry the country’s vital crude oil exports.īut U.S. Much of Iran’s imports, including food and consumer goods, are transported by sea via container and bulker ships. Shopkeepers wait for customers in their shop in Tehran's Grand Bazaar January 19, 2009.
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