Switzerland defies US, EU ban on Iran oil

Switzerland will continue to purchase Iranian oil in defiance of the European Union sanctions on the Islamic Republic that came into effect on July 1

The Swiss Federal Department of Economic Affairs stated that Switzerland will not join the oil embargo against Iran, despite pressure from the United States and the EU, IRNA reported on Friday.
Switzerland says that any decision on the import, sale, and transport of Iranian crude oil and petrochemical products and their insurance coverage should be made by the parties to the trade themselves.
In response to a question by the Swiss news agency SDA/ATS, a Swiss Foreign Ministry spokesman said that Switzerland wants to maintain good relations with Iran.
In April, the Swiss government also exempted the Central Bank of Iran from the asset freeze that is part of the EU sanctions.

Allaw: Venezuelan Oil Tanker Loaded with 35000 Tons of Diesel Arrived in Syria

DAMASCUS, (SANA) – Minister of Petroleum and Mineral Resources, Sufian Allaw, stressed on Wednesday that a Venezuelan oil tanker loaded with 35000 tons of diesel arrived on Monday, adding that Venezuela is preparing another tanker to head to Syria.

Concerning gas, Allaw said during a press conference that Syria’s gas production covers 50% of demand, pointing out that negotiations are underway to import gas from Iran and Algeria to compensate for gas shortage.

Allaw revealed that the Syrian oil sector has lost USD 4 billion because of the oppressive EU and US sanctions on oil exports and imports since last September.

The Minister added that the joint Syrian-Russian Committee in Moscow would discuss the possibility of signing a long-term contract with Russia to supply fuel and gas to Syria. Continue reading