Greek shipowner de­nies ship­ping Ira­nian oil

Kathimerini English - - Front Page -

LON­DON (Reuters) - Iran is us­ing old tankers, saved from the scrap­yard by for­eign mid­dle­men, to ship out oil to China in ways that avoid West­ern sanc­tions, say of­fi­cials in­volved with sanc­tions who showed Reuters cor­rob­o­rat­ing doc­u­ments. The of­fi­cials, from states in­volved in im­pos­ing sanc­tions to pres­sure Iran to curb its nu­clear pro­gram, said the tankers – worth lit­tle more than scrap value – were a new way for Iran to keep its oil ex­ports flow­ing by ex­ploit­ing the le­gal lim­i­ta­tions on West­ern pow­ers’ abil­ity to make sanc­tions stick world­wide. Of­fi­cials showed Reuters ship­ping doc­u­ments to sup­port their al­le­ga­tion that eight ships, each of which can carry close to a day’s worth of Iran’s pre-sanc­tions ex­ports, have loaded Ira­nian oil at sea. “The tankers have been used for Ira­nian crude,” one of­fi­cial said. “They are part of Iran’s sanc­tions-bust­ing strat­egy.” Dim­itris Cam­bis, the Greek busi­ness­man who last year bought the ships – eight very large crude car­ri­ers, or VLCCs – to carry Mid­dle East crude to Asia, flatly de­nied do­ing any busi­ness with Tehran or run­ning clan­des­tine ship­ments of its oil to China. Cam­bis said he had not been in­volved in ship­ping be­fore but had bought the tankers as part of a new ven­ture he runs from the United Arab Emi­rates. He de­nied trad­ing with Iran – though he has con­tacts there from his pre­vi­ous work in the oil in­dus­try. nomic pol­icy coun­cil. The new body will over­see the coun­try’s econ­omy and is­sue pro­pos­als to the pres­i­dent re­gard­ing macroe­co­nomic is­sues, Pis­sarides told Cypriot state broad­caster CyBC yes­ter­day. Mean­while, ap­pointed Fi­nance Min­is­ter Michalis Sar­ris had a long con­sul­ta­tion with out­go­ing min­is­ter Vas­sos Shiarly ahead of Sar­ris’s trip in view of his par­tic­i­pa­tion in next week’s Eurogroup meet­ing of eu­ro­zone fi­nance min­is­ters. Sar­ris will travel to Brus­sels on Satur­day to con­sult with var­i­ous Euro­pean Union of­fi­cials ahead of the Eurogroup sched­uled for March 4. Elected pres­i­dent of Cyprus on Sun­day, Anas­tasi­ades has promised to move fast to se­cure for­eign aid to help the coun­try emerge from its worst fi­nan­cial cri­sis in four decades.

Turk sell-off blow.

Turk­ish Prime Min­is­ter Re­cep Tayyip Er­do­gan’s deci- sion to scrap a $5.7 bil­lion sale of roads and bridges over the price risks leav­ing the na­tion more de­pen­dent on bond and stock in­vestors to fund its cur­rent ac­count deficit. The High Board of Pri­va­ti­za­tion can­celed a com­pleted auc­tion on last Fri­day af­ter Er­do­gan said the win­ning bid was too low. While Turkey has al­ready met this year’s tar­get for as­set sales af­ter a stock of­fer­ing in state-run lender Turkiye Halk Bankasi AS, the can­cel­la­tion may damp in­vestor sen­ti­ment, ac­cord­ing to Gu­lay Gir­gin at Ata In­vest and Ozgur Al­tug at BGC Part­ners. Fail­ure of block sales will prob­a­bly push the government to of­fer more deals to the pub­lic, Gir­gin said, while the government may be look­ing for higher of­fers from Mid­dle East­ern in­vestors, ac­cord­ing to Al­tug. “The can­cel­la­tion is likely to have a dis­turb­ing ef­fect on in­vestor sen­ti­ment,” Gir­gin, an econ­o­mist in Is­tan­bul, said by phone.

Newspapers in English

Newspapers from Greece

© PressReader. All rights reserved.