More Iranian sanctions, Iraqi exports up, and US plans new refinery

摘要

The US announced proposals for further sanctions on Iran, including the targeting of companies that reflag their tankers to avoid existing US and EU sanctions, and firms investing in joint-ventures outside Iran in which Iran is also a "substantial" investor or partner. China reported that its imports of Iranian crude fell by 22% in the first seven months of 2012 compared with the same period in 2011. South Africa said it imported no Iranian crude in June. Iranian exports to Japan and South Korea were reported down. Under pressure from the US, Tuvalu began to deregister Iranian tankers that had been registered under its own flag. Iran was reported burning nearly 100,000 bpd more heavy fuel oil than usual in its power stations as its exports of fuel oil fell because of sanctions. A US Navy destroyer patrolling the Persian Gulf accidentally collided with a Japanese tanker.