Thursday, October 18, 2012

'Dubai is still buying Iranian oil

[Reuters] "... Washington in the summer tightened controls on financial transactions for importing Iranian condensate, a light hydrocarbon, as part of U.S. efforts to starve Tehran of revenues for its disputed nuclear program.But Dubai is still buying the oil while U.S. officials encourage the Dubai-government-owned Emirates National Oil Company (ENOC) to find another source of supply.
"The Americans did ask ENOC to stop importing but this is still going on," a UAE oil industry source said of the continued imports by fuel-poor Dubai.
"We have discretion under executive order and we are working with UAE to ensure imports wind down," a U.S. official said..."

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