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Ceasefire On The Rocks? Trump Sanctions Chinese Firm For Importing Iranian Crude
Ceasefire On The Rocks? Trump Sanctions Chinese Firm For Importing Iranian Crude
A huge escalatory step in the US-led economic war on Tehran and its global oil exports, and amid continued trade tensions with Beijing: the US State Department said Monday the US will impose new sanctions against a Chinese company for transporting Iranian crude in contravention of US sanctions. As the WSJ reports:
Secretary of State Mike Pompeo told The Wall Street Journal on Monday that Chinese company Zhuhai Zhenrong and one of its executives knowingly violated U.S. law barring the import of Iranian crude oil.
China had previously been part of the so-called waiver program, which had granted eight countries exceptions which allowed temporary imports of Iranian oil, but which expired May 2 of this year.
The US did not renew the waiver program, known as ‘Significant Reduction Exceptions,’ in what was seen globally as a serious escalation by Washington attempting to bring Europe and other economic partners to heel over continued dealings with Tehran.
The Chinese company has been identified as Zhuhai Zhengrong Co Ltd, which Pompeo accused of violating US law over its continued Iran crude imports. Notably, its CEO will also be under sanction.
The WSJ continued:
The company and the executive will be barred from engaging in any foreign exchange, banking or property transactions under U.S. jurisdiction. The company couldn’t be immediately located for comment. Chinese officials did not respond to a request for comment.
Pompeo said while addressing reporters in Florida, “We’ve said that we will sanction any sanctionable behavior and we mean it.”
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Iran Urges UK To Rein In ‘Deep State’; Germany Warns Of “Uncontrollable” Escalation
Iran Urges UK To Rein In ‘Deep State’; Germany Warns Of “Uncontrollable” Escalation
Iran’s ambassador in London warned on Sunday that the UK government must get its “domestic political forces” pushing for regime change under control or else the two countries will face dangerous escalation. The public statement came two days after the British-flagged Stena Impero was boarded and captured by IRGC commandos, and over two weeks after the tanker Grace 1 was seized by UK Royal Marines off Gibraltar.
Iranian Ambassador Hamid Baeidinejad urged via his personal Twitter account that continued pressure on Iran would be “unwise” given that Tehran stands “firm and ready for different scenarios”.
The ambassador said the UK government must “contain those domestic political forces who want to escalate existing tension between Iran and the UK well beyond the issue of ships” — in what appears a reference to the UK defense establishment and its allies at think tanks like the neoconservative the Henry Jackson Society and others, and powerful oil and weapons gulf allies like Saudi Arabia.
His statement implied that British ‘deep state’ elements were using the tit-for-tat tanker seizures as a convenient raison d’etre for pushing conflict with Iran.
On Friday Britain had issued its own warnings, with Foreign Minister Jeremy Hunt telling the Iranians they face “robust” and “serious consequences,” but he stopped short of discussing military options, instead his statements emphasized diplomacy. The UK has condemnedit as “a hostile act” – and German Foreign Minister Heiko Maas has indicated European leaders are desperately trying to prevent “uncontrollable military escalation.”
Meanwhile, more details of Iran’s seizure of the still detained Stena Impero tanker have emerged. IRGC spokesman Brig. Gen. Ramezan Sharif was cited by Iran’s Fars News Agency over the weekend as claiming a Royal Navy warship had attempted to put up “resistance and interference” to prevent Iran’s navy from detaining the vessel.
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UK Holds Crisis Meeting After Tanker Seizure As Armed Aircraft Protects US Cargo Ship In Gulf
UK Holds Crisis Meeting After Tanker Seizure As Armed Aircraft Protects US Cargo Ship In Gulf
British officials are scrambling after two UK tankers were captured by Iran in one dramatic day in the gulf — or rather we should clarify that the Stena Impero is UK flagged but not owned by a UK company (the owner ‘Stena Bulk’ is based in Sweden), while the Mesdar is Liberian flagged but is in fact owned by a UK company.
However, Iranian state media is denying that the Liberian flagged, UK-owned tanker captured is still being held, with new reports it’s been released, per the following wire updates:
Norbulk Shipping UK says Liberian registered vessel Mesdar was boarded by armed personnel at approximately 17:30 BST on Friday.
…Norbulk says armed guards have left and the vessel is now free to continue to voyage, crew safe and well.
UK Foreign Secretary Jeremy Hunt voiced that Britain is “extremely concerned” by the “unacceptable” seizure of the two vessels IRGC forces in the Strait of Hormuz. “I will shortly attend a COBR meeting to review what we know and what we can do to swiftly secure the release of the two vessels,” he said in reference to a Cabinet Office Briefing Room meeting over the major crisis, which is equivalent to the National Security Council’s ‘situation room’ meetings.
“Their crews comprise a range of nationalities, but we understand there are no British citizens on board either ship,” Hunt continued, according to the AP. “These seizures are unacceptable. It is essential that freedom of navigation is maintained and that all ships can move safely and freely in the region.”
Meanwhile the UK Chamber of Shipping also said it “condemn unreservedly” the capture of the British-owned vessel, but it remains unclear the precise order of the pair of tankers’ capture.
…click on the above link to read the rest of the article…
Iran Seizes UK Tanker For “Violating International Regulations”
Iran Seizes UK Tanker For “Violating International Regulations”
A British flagged tanker has been seized by Iran as it was heading toward Saudi Arabia in the Persian Gulf. The vessel has been identified as the ‘Stena Impero’ which according to public tracking data was expected at the port of Al Jubail in Saudi Arabia; however, on Friday it dramatically veered off course and began sailing directly into Iranian waters.
Iran state media has confirmed the IRGC announced it has “captured a British tanker in the Persian Gulf” because the vessel was “violating international regulations”. CNN is reporting that US officials have confirmed Iran captured the British vessel in the Strait of Hormuz. Tanker tracker republished in UK Defence Journal showing the Stena Impero erratically changing course toward Iran on Friday.
The UK Defence Journal first reported based on satellite tracking: “The British flagged ‘Stena Impero’ has taken a very sudden turn into Iranian waters despite her original destination being Saudi Arabia, according to data relayed by maritime tracking services.”
“The vessel is now apparently heading to Qeshm in Iran but had been originally sailing towards Al Jubail in Saudi Arabia,” according to the breaking report.
Crucially, this comes just as UK officials have confirmed authorties in Gibraltar will detain the tanker ‘Grace 1’ – first seized early this month by UK Royal Marines – for another 30 days.
Iran had promised to retaliate in kind, following the confirmed detention of a UAE-based Panamanian flagged vessel, the Riah, this week.
Oil prices spiked on the news…
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Iran Offers Nuclear Deal If US Lifts Sanctions; Oil Tumbles
Iran Offers Nuclear Deal If US Lifts Sanctions; Oil Tumbles
Who knew Rand Paul could be such an effective negotator.
One day after the Republican senator and son of Ron Paul was reported to be Trump’s liaison to negotiate with Iran in hopes of easing tensions, sending the price of oil tumbling, the Guardian report that Iran has offered a deal with the US in which it would “formally and permanently” accept enhanced inspections of its nuclear program, in return for the permanent lifting of US sanctions.
The offer was made by Iran’s foreign minister, Mohammad Javad Zarif, on a visit to New York, although for those hoping that the US and Iran will become bffs, don’t get your hopes up: as the Guardian notes, the offer is unlikely to be warmly received by the Trump administration, which is currently demanding Iran make a range of sweeping concessions, including cessation of uranium enrichment and support for proxies and allies in the region.
To thise, Zarif countered that his offer was “a substantial move”.
“It’s not about photo ops. We are interested in substance,” he told reporters at the Iranian mission to the UN in New York on Thursday. “There are other substantial moves that can be made.”
“If they [the Trump administration] are putting their money where their mouth is, they are going to do it. They don’t need a photo op. They don’t need a two-page document with a big signature.”
In May of 2018, Trump unleashed an oil embargo on Iran, coupled with severe banking sanctions, when the US withdrew the US from the 2015 multilateral nuclear deal with Iran known as the Joint Comprehensive Programme of Action (JCPOA).
…click on the above link to read the rest of the article…
US Navy Shoots Down Iranian Drone Over Strait Of Hormuz: Trump
US Navy Shoots Down Iranian Drone Over Strait Of Hormuz: Trump
President Trump announced on Thursday that the amphibious assault ship, the USS Boxer, shot down an Iranian drone in the Strait of Hormuz in a defensive action.
MORE: Trump said that the Iranian drone’s actions were “the latest of many provocative and hostile actions by Iran”
Operators of the drone refused calls to stand down, after which it was “immediately destroyed,” when it came within 1,000 yards of the ship according to the president, “threatening the safety of the ship and the ship’s crew.”
Trump has called on “other nations to protect their ships as they go through the Strait.
The comments come as tensions between Washington and Tehran remain high over a spate of attacks on cargo ships, the downing of an American drone and the British seizure of a tanker carrying Iranian oil. Earlier in the day, the U.S. condemned Iranian naval activity in the Persian Gulf and demanded the Islamic Republic release a small tanker and its crew that its forces seized this week. A State Department official who asked not to be identified discussing the issue cited the Islamic Revolutionary Guard Corps’ “continued harassment” of vessels in and around the Strait. -Bloomberg
Oil futures jumped a bit on the news, climbing 34 cents a barrel to reel in some of the day’s 2.6% loss.
As we noted earlier in the day, Iran’s Islamic Revolutionary Guard Corps (IRGC) said it has seized a foreign vessel with 12-crew members carrying one million barrels of oil. In an official Iranian media statement, the country’s military asserted the tanker was caught “smuggling” the fuel through the Strait of Hormuz.
…click on the above link to read the rest of the article…
Iran Seizes Foreign Tanker “Smuggling” Fuel In The Gulf
Iran Seizes Foreign Tanker “Smuggling” Fuel In The Gulf
Iran’s Islamic Revolutionary Guard Corps (IRGC) says it has seized a foreign vessel with 12-crew members carrying one million barrels of oil. In an official Iranian media statement early on Thursday, the country’s military asserted the tanker was caught “smuggling” the fuel through the Strait of Hormuz.
While details to the breaking story remain confused, with some early reports speculating it could be reference to the Riah tanker which since the past weekend disappeared as it drifted toward Iranian waters in the Strait of Hormuz, what is clear is that Tehran is ramping up the pressure, perhaps now making good on its longtime threat to cut off global shipping through the vital oil passageway.
A foreign vessel smuggling one million liters of fuel in the Lark Island of the Persian Gulf has been seized,” state run ISNA said, adding that the ship was seized on Sunday.
This was the same day Iran had claimed to have “rescued” the UAE-owned, Panamanian-flagged Riah as it was in need of repairs due to technical problems, however, neither Iran’s military nor media identified the seized vessel or its country in initial statements.
Iran’s Press TV has issued the following details in a breaking statement:
The incident took place to the south of the Iranian Lark Island on Sunday.
IRGC naval forces, which were patrolling the waters on an anti-smuggling mission, acted against the vessel in a “surprise” operation upon ascertaining the nature of its cargo and securing the required legal approval from Iranian authorities.
The ship had loaded the fuel from Iranian dhows and was about to hand it over to other foreign vessels in farther waters. The vessel, which had 12 foreign crewmembers aboard at the time of the mission, is capable of carrying two million liters of fuel.
…click on the above link to read the rest of the article…
UAE Tanker “Disappears” In Persian Gulf, US Blames Iran
UAE Tanker “Disappears” In Persian Gulf, US Blames Iran
The plight of a “mystery” UAE tanker that’s gone missing in the Persian Gulf now threatens to again send tensions with Iran soaring. Its location transmission signal was turned off Sunday as it drifted toward Iranian waters and it hasn’t been heard from since, with even United Arab Emirates officials staying silent about it. The AP reports:
Tracking data shows an oil tanker based in the United Arab Emirates traveling through the Strait of Hormuz drifted off into Iranian waters and stopped transmitting its location over two days ago, raising concerns Tuesday about its status amid heightened tensions between Iran and the U.S.
The report details that the Riah, a 58-meter oil tanker which operates frequently in the region, switched off its transponder for the first time in three months after 11pm on Saturday, based on tracking data.
As of Monday “red flags” were raised as US officials began inquiring of the Riah’s status. CNN’s Pentagon correspondent Barbarra Starr had this to say based on intelligence sources: “US intel increasingly believes UAE tanker MT RIAH forced into Iranian waters over the weekend by #IRGC naval forces. UAE isn’t talking.”
However, this could be another case of hawkish US intelligence and defense officials hyping a false threat. Starr continued based on her source: “Some Gulf sources say ship simply broke down/towed by Iran. US says though no contact with crew. Last location Qesham Island.“
Following the UK’s controversial and aggressive move to seize a tanker carrying 2 million barrels of Iranian oil of Gibraltar earlier this month, Tehran’s military has threatened to in turn intercept UK vessels.
Iran Denies Trying To Seize UK Tanker In Persian Gulf After Military Close Encounter
Iran Denies Trying To Seize UK Tanker In Persian Gulf After Military Close Encounter
Update:
Iran’s Islamic Revolutionary Guard Corps (IRGC) denied reports that their patrol boats tried to stop a British oil tanker in the Persian Gulf, with IRGC’s naval unit stating that “there were no encounters between the Iranian warships and foreign vessels at the time when the incident is alleged to have taken place,” according to Fars News.
The IRGC also reiterated that they are prepared to “act swiftly and decisively” should they receive an order to capture any foreign ship.
London said three Iranian patrol boats attempted to stop its oil tanker, ‘British Heritage,’ as it was sailing through the Strait of Hormuz to the Persian Gulf. According to the British government statement, the Iranian vessels were forced to back away after receiving a warning from the Royal Navy frigate, HMS ‘Monrose,’ which was escorting another tanker in the area.
As reported previously, tensions between Tehran and London escalated last week when the Royal Marines and Gibraltar’s police seized a Panama-flagged and Singapore-owned supertanker near the Strait of Gibraltar. The ship was suspected of transporting oil to Syria in violation of the EU sanctions on Damascus.
* * *
Earlier:
With the Persian Gulf uncharacteristically quiet in recent days, without any material provocation either real of staged, late on Wednesday CNN reported that three armed Iranian Islamic Revolutionary Guard boats unsuccessfully tried to seize a British oil tanker in the Persian Gulf. There was no independent verification of the report, but instead it was once again sourced to those who stands to gain the most from a way with Iran, namely “two US officials with direct knowledge of the incident.”
…click on the above link to read the rest of the article…
UAE Withdraws From Yemen
UAE Withdraws From Yemen
Christopher Pike for the Crown Prince Court-Abu Dhabi
A United Arab Emirates decision to withdraw the bulk of its forces from Yemen shines a spotlight on hard realities underlying Middle Eastern geopolitics.
The pullback suggests that the UAE is preparing for the possibility of a US military confrontation with Iran in which the UAE and Saudi Arabia could emerge as prime battlegrounds.
It also reflects long-standing subtle differences in the approaches of Saudi Arabia and the UAE towards Yemen.
It further highlights the UAE’s long-standing concern for its international standing amid mounting criticism of the civilian toll of the war as well as a recognition that the Trump administration’s unquestioning support may not be enough to shield its allies from significant reputational damage.
The withdrawal constitutes a finetuning rather than a reversal of the UAE’s determination to contain Iran and thwart political Islam witness the Emirates’ involvement in the Libyan civil war and support for renegade field marshal Khalifa Belqasim Haftar as well as its support for the embattled Sudanese military and autocrats like Egyptian general-turned-president Abdel Fattah al-Sisi.
While the UAE may have withdrawn the bulk of its troops from key regions of Yemen, it leaves behind Emirati-trained local forces that will continue to do its bidding. The withdrawal, moreover, is not 100 percent with the UAE maintaining its Al-Mukalla base for counterterrorism operations.
The UAE’s commitment to assertive policies designed to ensure that the small state can continue to punch above its weight are also evident in its maintenance of a string of military and commercial port facilities in Yemen, on the African shore of the Red Sea, and in the Horn of Africa as well its hard-line towards Qatar and rivalry with Turkey.
…click on the above link to read the rest of the article…
Egypt Seizes Tanker Carrying Iranian Crude
Egypt Seizes Tanker Carrying Iranian Crude
Tehran’s threats of retaliation against the UK for seizing a tanker carrying Iranian crude oil for export have prompted a British vessel to shelter in the Gulf, but the rest of the world doesn’t seem to be taking them too seriously.
Citing local press reports, Middle East Monitor said Tuesday that a Ukrainian tanker carrying Iranian oil as it passed through the Suez Canal ten days ago was seized by the Egyptian government, just as Egypt’s State Security Criminal Court was sentencing six people to lengthy jail terms allegedly for spying for Iran.
Those defendants have all been sentenced to between 15 and 25 years in jail, a $30,000 fine and the confiscation of their computers and phones.
Egyptian Al-Azhar Professor Alaa Moawad, who was present at the trial on Sunday, was accused of harming Egypt’s national interests and receiving money to spread Iranian Shiism in Sunni Egypt by launching a website, issuing publications and attracting recruits.
British Forces Seize Oil Tanker for Busting Syria Sanctions
Egypt is a staunch ally of the US, and as a Sunni-majority country, would naturally align with the UAE and Saudi Arabia in their efforts to contain Iran. Egypt also supports the Saudi-backed coalition in Yemen that is fighting to retain control in that country’s brutal civil war. Cairo has condemned the Houthis for the recent spate of attacks on Saudi infrastructure that have inflamed tensions in the region.
Washington and Riyadh have blamed Iran for a series of attacks on oil tankers in and around the Strait of Hormuz, though there is somedisagreement on this subject.
…click on the above link to read the rest of the article…
“Iran-Backed” Attack On Merchant Ship In Red Sea Thwarted: Saudi Coalition
“Iran-Backed” Attack On Merchant Ship In Red Sea Thwarted: Saudi Coalition
As the tanker and pipeline wars in the gulf continue to heat up, Saudi state sources are claiming to have thwarted a new “terror attack” on a commercial ship targeted by Yemen’s Houthis.
Spokesman for the Saudi coalition fighting in Yemen, Col. Turki al-Maliki, announced Monday that “Houthis attempted to attack a commercial ship south of the Red Sea using a booby-trapped boat with explosives,” according to a statement from the Saudi Press Agency.File photo via AFP
Al-Maliki pointed the finger at the “Iran-backed” Shia militia for posing a threat to navigation and international trade, but vowed that the coalition — which has since 2015 included US forces — would “neutralize” all hostile threats in the region.
The statements via the Saudi Press Agency suggest that an active, ongoing operation is underway in response to the alleged Houthi targeting of a merchant vessel in the south Red Sea.
The Bab El Mandeb strait, located between Yemen on the Arabian Peninsula to the Red Sea’s south, is considered one of the world’s most important trade routes for oil tankers and over the course of the Saudi-Yemen war has been site of multiple military operations launched between the Houthis and Saudis.
Impossible to predict Iran’s response vs UK. Expect mischief/hassling of UK tankers in Persian Gulf. Is bigger risk than attack on tanker in Persian Gulf, the wildcard of Iran proxies, in particular the Houthis who have attacked Saudi tankers in the Red Sea/Bab el Mandeb? #OOTT
…click on the above link to read the rest of the article…
British Oil Tanker Seeks Shelter Over Fears It Could Be Seized By Iran
British Oil Tanker Seeks Shelter Over Fears It Could Be Seized By Iran
After a former IRGC commander exhorted his government to take a British oil tanker hostage following the seizure by Royal Marines last week of a vessel hauling Iranian crude, an oil tanker run by British Petroleum is sheltering in the Persian Gulf over fears it could soon be seized by Iran in a tit-for-tat response, Bloomberg reports.
British Heritage
The tanker, which is named ‘British Heritage’, is able to haul about 1 million barrels of crude. It had been sailing toward Iraq’s Basrah oil terminal when it made an abrupt U-turn over the weekend.
The ship is now hanging out near Saudi Arabia’s coast because BP is reportedly worried that the vessel could be targeted if Iran seeks to retaliate for the seizure of the tanker Grace 1 on Thursday.
The Grace 1 was seized after being caught transporting Iranian crude, in breach of sanctions.
British Heritage, registered in the Isle of Man and flying under the British flag, had been chartered by Royal Dutch Shell Plc to transport crude from Basrah to northwest Europe. However, it never collected its cargo and the booking was canceled.
Of course, the ship won’t be able to pass through the Strait of Hormuz, the chokepoint through which about 1/3 of global oil shipped by sea moves, without sailing close to Iran’s coast. It’s unclear how long the ship will be sheltering for.
Iran’s deputy foreign minister said on Sunday he considered the seizure of Grace 1 to be an ‘act of piracy,’ while a former leader of Iran’s Revolutionary Guard said the Islamic Republic should take a British tanker in response.
While it’s owners apparently believe the British Heritage to be ‘safe’ in Saudi custody, we wouldn’t be surprised if it was conveniently and mysteriously ‘bombed’ like the handful of other tankers over the past few months – an incident that the UK and KSA would have no problem pinning on the Iranians.
How Iran Will Determine If The US Dollar Remains The World’s Reserve Currency
How Iran Will Determine If The US Dollar Remains The World’s Reserve Currency
For almost two centuries, Sterling reigned supreme as the world’s reserve currency, propping up the vast British Empire which was the world’s superpower during the 19th century and the early 20th. Then, in the span of just a few months, everything changed and the US Dollar took over after a series of dramatic events.
For those unfamiliar with this historic transformation, Clarmond’s Mustafa Zaidi and Chris Andrew describe the series of events in which Iran and its oil reserves proved to be the final nail in the coffin of sterling and the British Empire. However, what is far more interesting, is their suggestion that the current tensions between Washington and Tehran, and what happens to Iranian gas, could also be the event that results in the end of the dollar’s own reserve status.
Why? Read on in Clarmond’s observation on “Self Deception and Pride.”
Wilting in the muggy summer of 1945 in Washington DC, an ailing Lord Keynes messaged London – his mission to procure a $5b grant to avoid a ‘financial Dunkirk’ had failed.
Instead the Americans had offered a $3.5b loan loaded high with conditions. “We are in Shylock’s hands” muttered Ernie Bevin, the Labour Foreign Minister. The American demands were put forward by a former cotton king (Will Clayton) a future Chief Justice (Fred Vinson) and crafted by the President of Chase Bank (Winthrop Aldrich). There were three immovable requirements for the loan. First an end to Imperial Preference in trade, secondly the floatation of Sterling within a year, and thirdly Britain signing up to the Bretton Woods system.
The American objective was to put American industry and finance at the centre of the world. This meant dismantling the sterling free-trade market and destroying sterling’s status as a settlement and reserve currency.
…click on the above link to read the rest of the article…
The Winds are Shifting
The Winds are Shifting
How do you define terror? Perhaps, because of the way the term has evolved in the English language, one wouldn’t call the west ‘terrorists’ per se, but ‘we’ are certainly spreading terror and terrorizing very large groups of people. Yeah, bring on the tanks and parade them around town. Add a marching band that plays some war tunes.
The ‘official’ storyline : at the request of the US, Gibraltar police and UK marines have seized an oil tanker in Gibraltar. The super-tanker, 1000 feet (330 meters) long, carrying 2 million barrels, had stopped there after sailing all around the Cape of Good Hope instead of taking the Suez canal on its way, ostensibly, from Iran to Syria.
And, according to the storyline as presented to and in the western press, because the EU still has sanctions on Iran, the British seized the ship. Another little detail I really appreciate is that Spain’s acting foreign minister, Josep Borrell, said Madrid was looking into the seizure and how it may affect Spanish sovereignty since Spain does not recognize the waters around Gibraltar as British.
That Borrell guy is the newly picked EU foreign policy czar, and according to some sources he’s supportive of Iran and critical of Israel. Them’s the webs we weave. He’s certainly in favor of Palestinian statehood. But we’re wandering…
Why did the tanker take that giant detour along the African coastline? Because potential problems were anticipated in the Suez canal. But also: why dock in Gibraltar? Because no problems were anticipated there. However, the US had been following the ship all along, and set this up.
…click on the above link to read the rest of the article…
