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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL
The Biden administration may leverage new Iran sanctions measures included in the recently passed US security package to pressure Chinese buyers to cut Iranian oil purchases, but the measures are unlikely to have a big impact in the near term, Platts said.
- Experts told Platts that expanding sanctions will make little difference as the current measures are not being enforced.
- The recent package included measures that impose sanctions on foreign ports, vessels and, refineries trading sanctioned Iranian oil. This included STS transfers.
- The illicit nature of Iran’s oil trade adds further difficulty for the US to curtail operations.
- Any serious action to limit Iran’s oil production is not expected until after the US presidential election in November.
- China buys around 90% of Iran’s crude exports, with independent refineries buying at steep discounts.
Source: S&P Global Commodity Insights
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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