Canada slaps sanctions on Gazprom, other Russia energy firms Canada is imposing economic sanctions against Russian energy firms such as natural gas producer Gazprom OAO in response to the actions of Russian-backed militants in Ukraine, Ottawa said on Monday. A government statement did not give details of the sanctions. Other firms targeted are Gazprom Neft OAO, Surgutneftegaz OAO and Transnefteprodukt OAO. (Reporting by David Ljunggren; Editing by Richard Chang)
Norwegian authorities have given the Stavanger-based energy giant Statoil the go-ahead on joint projects with Rosneft, a Russian oil titan that was the target of Western sanctions in 2014. Statoil and Rosneft previously agreed on four projects to explore and produce oil on the Russian continental shelf in the Barents Sea and in the Sea of Okhotsk close to the Arctic Circle. Additionally, there are two joint cooperation projects onshore.
Ninety North Korean vessels were granted certificates to enter Japanese ports in the eight months since a new law that bans entry of any ship without insurance took effect, according to a Daily Yomiuri report. The law on liability for oil pollution damage, which came into force on March 1, requires vessels of 100 tons or larger to be insured before docking in Japan. It had been viewed as a de facto economic sanction
Ukraine's Danube Shipping Company lost $110 million due to military action in Yugoslavia last year that destroyed bridges and blocked traffic along the Danube, transport minister Leonid Kostyuchenko said. NATO launched air strikes last year on Yugoslavia, which it accused of ethnic cleansing in the province of Kosovo, densely populated by ethnic Albanians. Kostyuchenko said collapsed bridges had blocked 63 Ukrainian ships on upper stretches of the Danube
Russia will take counter measures if Washington imposes new sanctions on Moscow over the Ukraine crisis, Russia's Deputy Foreign Minister Sergei Ryabkov said on Saturday. The U.S. Congress has readied new sanctions on Russian weapons companies and investors in the country's high-tech oil projects, but U.S. President Barack Obama has yet to sign a corresponding bill into law. "We will not be able to leave that without an answer
Around 1,250 trucks carrying Turkish exports have been blocked from entering Russia and are stranded at border posts awaiting clearance, a senior shipping industry representative told Reuters on Monday. Six days after NATO-member Turkey shot down a Russian fighter jet in the first known incident of its kind since the Cold War, calls for calm have gone largely unheeded. Ankara refuses to back down and Russia responds with sanctions.
Rebels pressed ahead with a referendum on self-rule in east Ukraine on Sunday and fighting flared anew in a conflict that has raised fears of civil war and pitched Russia and the West into their worst crisis since the Cold War. Clashes broke out around a television tower on the outskirts of the rebel stronghold of Slaviansk shortly before voters made their way to polling stations through streets blocked by barricades of felled trees
The Russian government plans to spend between $400 to $500 million to expand and deepen the harbor of the Novorossiysk seaport to handle larger vessels, reports Moscow News. Construction, in order to make it more competitive with Ukrainian ports also on the Black Sea, is set to begin in the first quarter of next year with completion scheduled for 2020. Russian government expects that the project will boost container volume at Novorossiysk by 10 to 15 percent
India has come “under pressure” from Iran to complete the Chabahar Port project, with the lifting of Iranian trade sanctions, reports Hindu Business Line. Acting strategically to China’s repeated attempts to wean away India from Chabahar Port upgradation, India is taking steps to firm up its bilateral negotiations and alliance with Iran. According to highly placed sources
Iran is seeking $2.5 billion investment to modernise its oil tankers fleet following the lifting of sanctions against Tehran, managing director of National Iranian Tanker Company (NITC) was quoted as saying by state news agency IRNA on Saturday. Iran emerged from years of economic isolation after crippling sanctions were lifted in January in return for Tehran complying with steps to curb its nuclear ambitions. Reuters reported last month that two Chinese firms were pushing for
India will on Monday sign a commercial contract with Iran to build and run a strategic port on Iran's southern coast, the Indian government said on Friday, to help it gain a foothold in Iran and win access to central Asia and Afghanistan.
Indian Prime Minister Narendra Modi on Monday pledged up to $500 million to develop the southern Iran port of Chabahar, in a move to give his country trade access to Iran, Afghanistan and central Asia. The route is currently all-but blocked by Pakistan, long at odds politically with India
Korean Register (KR) – an IACS member classification society - has signed a Memorandum of Agreement to establish a joint venture company with the Iranian Classification Society (ICS). The agreement is to deliver plant facility certification and engineering services
Indian Prime Minister Narendra Modi signed a deal to develop the Chabahar port in Iran for which India will extend $500 million. The historic pact makes Chabahar the first foreign port which India is involved in developing to such a large extent.
Leading maritime exhibition offers gateway to maritime and offshore opportunities in Iran Europort has become the official and exclusive international partner of IRANIMEX, the leading maritime & offshore exhibition in Iran. The agreement brings together the brand behind the maritime
China's trade with North Korea rose in the first quarter in spite of tough new international sanctions this year targeting Pyongyang's banned nuclear program, including curbs on coal imports. Imports from the isolated country, consisting mainly of coal and clothes, rose 10
Iran has boosted its crude oil exports so far in April to around 1.75 million barrels per day, according to an industry source and shipping data, as OPEC's No. 3 producer works to recover market share following the lifting of sanctions.
Iran faces a struggle to increase oil exports because many of its tankers are tied up storing crude, some are not seaworthy, and foreign shipowners remain reluctant to carry its cargoes. Tehran is seeking to make up for lost trade to Europe following the lifting of EU sanctions imposed in
Danish shipping giant Maersk — the world’s largest container carrier — began its first ever connection between northern European ports and Cuba last Friday, promising the fastest freight transit times between Europe and the Cuban port of Mariel.
Iran all set launch a shipping line to Europe, North and South American countries, as sanctions against Iran’s shipping industry has been recently lifted. The Islamic Republic of Iran Shipping Lines (IRISL) has resumed its routes to various destinations across Europe
Libya has asked the United Nations Security Council to blacklist an Indian-flagged ship that is on its way to Malta carrying crude oil shipped by the rival eastern Libya government, Libya's U.N. envoy said on Tuesday. Libyan Ambassador Ibrahim Dabbashi told Reuters he had written to the
The United Nations Security Council Libya sanctions committee blacklisted on Wednesday an Indian-flagged tanker carrying crude oil shipped by the rival eastern Libya government, said diplomats, which would prevent it from entering any ports.
Indian Petroleum Minister Minister Dharmendra Pradhan says India has expressed interest in setting up an LNG terminal at Chahabar port in Iran to ship back home natural gas from Persian Gulf nation, reports PTI. India is ready to invest $20 billion in the development of Iran’s
French port Marseille Fos handled 20.17 million metric tons of cargo from January to March in a near identical repeat of last year’s first-quarter result. General cargo rose 1 percent to 4.49MT led by container growth at Fos, which gained 3 percent for 263,038 teu
The United States eased some sanctions on Myanmar on Tuesday to support political reforms and economic growth in the country, the Treasury Department said. The moves include easing restrictions on the country's financial institutions, removing seven state-owned companies from the U.S