Iran Halts Oil Exports to Pakistan as Sanctions Bite, Mehr Says
after a refiner in the South Asian nation failed to obtain financing for a purchase due to U.S. and European Union sanctions on Iran, Mehr news agency National Iranian Oil Co. signed a contract to sell 12,000 barrels of oil a day to state-owned Pakistan Oil Refining Co., state-run Mehr reported today, citing Pakistan’s Minister for Petroleum and Natural Resources Asim Hussain. Some banks in Pakistan rejected the Karachi-based refinery’s requests to open letters of credit in favor of the Iranian company, according to the report. , was the ...
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