Middle East Public date: 24.08.2017 23:12:18

Publisher: Worldbulletin News

Author:

3 Aug 2014

How Iran sanctions fears hurt humanitarian trade

The sanctions regime, imposed by the United States and European Union over Tehran's nuclear programme, permits trade in humanitarian goods such as food and phamaceuticals. Yet many banks are steering clear of financing any deals with Iran due to a series of fines handed out by U.S. authorities for dealing with sanctioned countries, including a recent $8.97 billion penalty for BNP Paribas of France. So from January to March this year the Greek-run tanker lay at anchor before it was forced to head to Fujairah in the United Arab Emirates to refuel - this also being difficult in Iran due to the sanctions.
The sanctions regime, imposed by the United States and European Union over Tehran's nuclear programme, permits trade in...

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