More than 25 European and Asian-owned supertankers are shipping Iranian oil, data seen by Reuters shows, allowing Tehran to ramp up exports much faster than analysts had expected following the lifting of sanctions in January.
On Sunday, Iranian and Chinese officials signed an agreement for large-scale Chinese investments and trade commitments for the Iranian petroleum industry.
Only a few years ago, Africa was being dubbed "the next Asia," and multinationals watched with mounting interest as local economies boomed across the continent. Although a decline in global commodity demand has since ushered in a slowdown, Africa remains a promising long-term growth market.
Iran has banned the import of Chevrolet cars, a week after Supreme Leader Ayatollah Ali Khamenei criticised imports of U.S. autos and asked the government to support domestic production.
Iran faces a struggle to increase oil exports because many of its tankers are tied up storing crude, some are not seaworthy, and foreign shipowners remain reluctant to carry its cargoes.
The latest supply chain news, analysis, trends and best practices for companies operating in the Middle East and Africa. The Middle Eastern region consists of 18 countries that stretch from the western borders of Turkey and Egypt to the eastern edges of Iran and Saudi Arabia. Learn how businesses are optimizing supply chain and logistics performance in these regions, addressing a range of challenges such as poor infrastructure, complex customs and tax laws, unstable political climates and government controlled exchange rates - as well as capitalizing on new land and labor opportunities, particularly across Africa.
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