U.S. President Barack Obama cleared the way for sanctions aimed at banks in countries that import Iranian oil, the latest U.S. step to ratchet up pressure on the government in Tehran over its nuclear program.
Iran has discovered one of its biggest oil fields with high quality crude in a southern province, the semi-official Mehr news agency quoted an official as saying on Saturday.
Iran and South Africa held talks in Tehran on Saturday to explore ways to circumvent the western sanctions on oil trade with the Islamic Republic, Mehr news agency reported.
Oil traded near a nine-month high after United Nations inspectors in Iran were denied access to a suspected nuclear site, raising concern that tensions between OPEC's second-biggest producer and Western nations may e ...
Iran has stopped selling crude to British and French companies, the oil ministry said on Sunday, in a retaliatory measure against fresh EU sanctions on the Islamic state's lifeblood, oil.
Turkey has no plans to cut its imports of Iranian oil, remaining a rare loyal customer of Tehran despite rising pressure from international sanctions and initial signals it may buy more Saudi oil, Turkish and Saudi s ...
Iran's parliament drafted legislation calling for the government to halt oil exports to Europe until the European Union cancels its planned ban on the country's crude, Fars news agency reported, citing a lawmaker.
Iran struck a combative tone Thursday in its confrontation with the West over the nuclear issue, threatening to terminate oil exports to European nations even before their embargo takes effect this summer.
The European Union banned imports of oil from Iran on Monday and imposed a number of other economic sanctions, joining the United States in a new round of measures aimed at deflecting Tehran's nuclear development pro ...
Oil rose in New York for the first time in four days on growing concern that the dispute between Iran and western governments may lead to a disruption in Middle East crude exports.