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Press TV | Nov 15
Press TV reports that an Asian satellite provider has stopped providing services to Iranian channels, including Press TV. Nearly 37 percent of Asia...
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Reuters news agency sources revealed that Royal Dutch Shell Company aims to circumvent international sanctions imposed on Iran by concluding a swap deal through which it would pay its debt to the Iranian national oil company.
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In an attempt to tighten the noose on Iran so it gives up its nuclear program, early this year the European Union added its voice to that of the United States by imposing sanctions on the government of Tehran that include prohibiting the import of Iranian oil. European countries granted their oil companies a 6-month grace period to adhere to the sanctions. During the grace period, these companies worked on gradually decreasing their dependence on Iranian oil. As large companies stopped buying Tehran's oil, sources revealed to Reuters agency that the Royal Dutch Shell company, Tehran's second largest customer that imports 100,000 barrels of Iranian oil per day continued to purchase oil until the sanctions went into effect on July 1st. As the scope of the sanctions was expanded to prohibiting financial transactions with Iranian banks and companies, Shell was unable to pay its dues, amounting to 1.4 billion dollars, to the Iranian national oil company, especially after the British government refused to give the company permission to pay off this debt through bank transfers. These sanctions forced Royal Dutch Shell to look for other means to settle its debt. According to Reuters, the company is currently trying to arrange a grain barter deal through the American agribusiness Cargill. Through this deal, Shell would deliver grains to Iran worth 1.4 billion dollars, or what amounts to nearly 80 percent of Iran's yearly import of grains. Shell hopes the deal receives the approval of the American, British and Dutch authorities since the export of grains, food products and essential supplies to Iran is permitted on humanitarian grounds despite the sanctions.