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Page added on January 26, 2012

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BP exempted from US ban on Iran oil

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BP Plc, UK, and EU have reportedly convinced US lawmakers to exempt a BP-led project from the newly- proposed Washington sanctions on Iran.

This is a clear indication that the West is pushing for stricter embargoes on Tehran without harming its own economy.

US senators have discussed provisions that could bar companies like BP from working with the National Iranian Oil Company (NIOC), Reuters quoted one congressional aide as saying on Monday.

The project, known as Shah Deniz, is a USD20 billion enterprise in the Caspian Sea off Azerbaijan, in which the Iranian state-owned oil company Naftiran Intertrade Co., an NIOC subsidiary, holds a 10% stake.

On New Year’s Eve, US President Barack Obama signed into law fresh unilateral economic sanctions against Iran’s Central Bank in an apparent bid to punish foreign companies and banks that do business with the Iranian financial institution. The bill ultimately takes aim at Iran’s oil revenue.

The United States, Israel and some of their allies accuse Tehran of pursuing military objectives in its nuclear program and have used this pretext to impose four rounds of sanctions and a series of unilateral sanctions against the Islamic Republic.

Iran has refuted the allegations, arguing that as a signatory to the Nuclear Non-Proliferation Treaty and a member of the International Atomic Energy Agency, Tehran has a right to use nuclear technology for peaceful use.

Press TV

3 Comments on "BP exempted from US ban on Iran oil"

  1. Indigoboy on Thu, 26th Jan 2012 2:27 pm 

    A further issue here for UK citizens, is why do they have to go to other international news stations like Press TV to get any in depth coverage, of the issues,(as per the article above)? If you watch both, BBC News and Press TV, it is astonishing how much the BBC do NOT report. Is it any wonder that vast swathes of the public can be duped time and time again with “WMD”, “missiles 45 minutes away from attack” etc.

    Oh,… and let’s not forget that Press TV were banned (20/1/2012), from British airwaves by Ofcom. After all, we wouldn’t want the british public getting alternate views of world politics.

    Make up your own mind as to the reasoning or politics behind the move (when you next buy a TV license!).

  2. DC on Thu, 26th Jan 2012 11:46 pm 

    BP gets exempted from a lot of things by the US dont they? Like, totally exempted from the rule of law for example.

  3. BillT on Fri, 27th Jan 2012 1:44 am 

    BP is the new God. They can do anything, even pollute the gulf of Mexico and get a slap on the wrist and a back payment from the taxpayers.

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