Thursday May 28, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Iran tanker cargo investigated off Greek coast amid EU ban

Sekavin SA, a Greek fuel supplier, said it’s investigating the origin of a cargo aboard an Iranian tanker off the Mediterranean island of Syros amid a European Union ban on purchases from the Middle East nation.

The Baikal arrived at the Greek island on Monday and has the capacity to carry about 1 million barrels of oil or refined products, ship-tracking data compiled by Bloomberg show. The cargo of ship fuel hasn’t been unloaded, Sekavin Operation Manager Yannis Spyridakis said by phone on Tuesday. The vessel is flying the Tanzanian flag, he said.

NITC, a Tehran-based tanker operator, controls the ship and says the company is owned by Iranian pension funds, data compiled by Bloomberg show. The 27-nation EU barred imports of Iran’s oil and refined products in July. The EU and U.S. have intensified sanctions, saying the country’s nuclear program is aimed at producing weapons, a charge Iran has denied.

“It’s clear that sanctions are getting tighter and tighter against Iran,” Samuel Ciszuk, an oil consultant at KBC Energy Economics in Walton-on-Thames, England, said by phone Tuesday. “There is great uncertainty for all parties involved as soon as Iran appears in the supply chain because of the embargo and financial sanctions.”

Habib-ullah Seyedan, NITC’s commercial director, declined to comment by phone Tuesday and said the company’s operations manager was not available for comment.

The Baikal arrived in Greece having been off the coast of Morocco as recently as Nov. 11, the ship-tracking data show.

Tanzania-Zanzibar said last month 14 Iranian tankers that were previously registered in Tuvalu were mistakenly signaling the east African territory as their flag state. NITC renamed part of its fleet and changed the ship registrations amid sanctions on Iran’s nuclear program, which the government in Tehran maintains is for civilian purposes.

The EU banned imports of the Middle East nation’s oil in July under legislation that also prohibited any vessel insured in the 27-country bloc from carrying the crude. The U.S. Treasury Department said July 12 it would block transactions through the country’s financial system involving NITC and 27 affiliated entities.

The EU sanctions on Iranian oil affected about 95 percent of the global tanker fleet because the ships are insured under rules governed by European law. Carrying Iranian oil would invalidate ships’ insurance against risks including spills and collisions, according to the International Group of P&I Clubs.

The sanctions are costing Iran about $98.9 million a day based on the average price of the country’s cheapest crude in Asia, its largest market, and October’s export estimates from the International Energy Agency.

[Bloomberg]

ekathimerini.com , Wednesday November 28, 2012 (12:14)  
Athens, creditors offer conflicting views on negotiations
Opposition presses PM over deal with lenders
Stamati makes sixth appeal to be granted house arrest
Athens responds after Albanian PM calls for new talks on maritime borders
New measure to benefit tax dodgers
The government is offering amnesty to all tax dodgers, even those under investigation by prosecuting authorities, therefore writing off very serious tax crimes that normally get punished wit...
OTE planning to hire up to 500 employees
OTE telecom is planning to hire a few hundred employees, though the exact number will depend on the take-up rate of two voluntary exit programs is has announced and the specialization of the...
Inside Business
SOCCER
Panathinaikos conquers PAOK through Tavlaridis goal
A Stathis Tavlaridis goal has brought Panathinaikos to practically within one point from clinching a spot in next season’s Champions League qualifiers, as the Greens made it three out of thr...
SOCCER
AEK Athens returns to top league after financial collapse
Greek club AEK Athens has just returned to the country's top soccer league, two years after financial collapse sent it to a lower league. One of the country's largest clubs, AEK sealed its s...
Inside Sports
COMMENTARY
Romantic notions meet reality
Before the elections, there was a considerable number of people who totally disagreed with the ideas and program put forward by SYRIZA, but they expected that the leftist party would, at lea...
EDITORIAL
Solving the Gordian Knot
The leftist-led government, as well as the country, have both been seriously damaged and exposed to risk from the evident indecision and repeated contradictions dogging the ongoing negotiati...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Panathinaikos conquers PAOK through Tavlaridis goal
2. New measure to benefit tax dodgers
3. OTE planning to hire up to 500 employees
4. ENFIA to drop up to 30 pct this year
5. Drachma clause demands are a deja-vu for hoteliers
6. ECB tells Athens to reach a deal
more news
Today
This Week
1. Some 300 mln left banks on Tuesday
2. Romantic notions meet reality
3. Target of Greek scorn shapes nation’s fate as IMF’s storm-chaser
4. The G-7's problem: Can the world deal with a Greek default?
5. Solving the Gordian Knot
6. FYROM PM blames Greece for name impasse
Today
This Week
1. Conspiracy madness
2. Hotel contracts with a ‘Greek default clause’
3. Neither Grexit nor a dual currency will solve Greece’s problems
4. No more 'quick and dirty' fixes for Greece
5. Merkel said to plan address for Greece if deal reached
6. Some 300 mln left banks on Tuesday
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.