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(Financial Times-UK) Javier Blas, James Blitz and Geoff Dyer - Western powers are prepared to offer Iran an "oil carrot" that would allow it to continue supplying crude to Asian customers in exchange for guarantees it is not building an atomic bomb. Diplomats and oil executives said the U.S. and EU were likely to hold out the prospect of a possible suspension of an EU insurance ban on ships carrying Iranian oil. They added that the U.S. and EU are not prepared to lift other sanctions - including an EU import ban on Iranian oil. Waiving the EU insurance ban, which takes effect on July 1, would allow China, India, Japan and South Korea to buy shipping insurance in London, which dominates the market. 2012-05-23 00:00:00Full Article
West Shifts Stance on Iranian Sanctions
(Financial Times-UK) Javier Blas, James Blitz and Geoff Dyer - Western powers are prepared to offer Iran an "oil carrot" that would allow it to continue supplying crude to Asian customers in exchange for guarantees it is not building an atomic bomb. Diplomats and oil executives said the U.S. and EU were likely to hold out the prospect of a possible suspension of an EU insurance ban on ships carrying Iranian oil. They added that the U.S. and EU are not prepared to lift other sanctions - including an EU import ban on Iranian oil. Waiving the EU insurance ban, which takes effect on July 1, would allow China, India, Japan and South Korea to buy shipping insurance in London, which dominates the market. 2012-05-23 00:00:00Full Article
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