ECONOMY

Turkish Iran oil imports steady in March

Turkey was twice granted a waiver on Iranian oil by the United States for 180 days after Ankara made initial cuts. (File Photo: Reuters)

Turkey imported around 100,000 barrels per day of Iranian oil in March, in line with the average of the past six months and far below the levels Ankara used to buy from Tehran before European Union's sanctions came into force last year.

Shipping data from a well-informed shipping agent in the region, obtained by Reuters, showed Turkey's terminal of Aliaga received one tankers with Iranian crude last month, carrying145,000 tones. The terminal at Tutunciftlik imported oil in two tankers, carrying 140,000 and 145,000 tones.

The data was revised to show Aliaga received one instead of two tankers with Iranian oil as the second tanker was carrying Iraqi crude instead.

Last year, Ankara effectively halved imports of Iranian oil after the European Union oil embargo against Iran came into full force on July 1, which also targeted the marine insurance sector, cutting off the usual avenues for tanker insurance.

Turkey was twice granted a waiver on Iranian oil by the United States for 180 days after Ankara made initial cuts.

It remains one of the largest customers for Iranian oil together with Asian buyers such as China, India, South Korea and Japan.

A provision of U.S. sanctions, made law last summer and implemented from Feb. 6, also tightened control on sales of precious metals to Iran.
 

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Last Update: Friday, 10 May 2013 KSA 16:58 - GMT 13:58
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