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Iraqi Vice President Taha Yasin Ramadan received a delegation from the Austrian Freedom Party led by deputy Ernst Fend Holst, according to a report from Baghdad Radio on 21 August. [...]

The Maritime Union of Australia (MUA) said on Friday it would lift bans on Indonesian trade at midnight, Saturday. This was in response to the Australian Council of Trade Unions [...]

Pressure from US corporations anxious not to lose out to foreign competitors in a rapidly developing East Asian economy finally prompted US Pres Bill Clinton to lift the US embargo against Vietnam on Feb 3, 1994. United Airlines, Exxon, United Technologies and other members of the US-Vietnam Trade Council had argued that countries such as France and Japan were racing ahead in establishing key economic positions in Vietnam. The US has used the embargo as a means of punishing Vietnam for winning the Vietnam war and Pres Clinton's statement lifting it gave absolutely no hint of any contrition.

The South Korean government is considering lifting its ban on local industries to invest in North Korea. If such inter-Korean business is permitted, this would signify a major modification of the South Korean policy of linking trade and investment to a resolution of concerns about North Korea's nuclear ambitions. The US is also considering lifting the trade embargo it imposed against North Korea in 1954.

The United States has ended its trade embargo against Vietnam, and companies have been quick to take advantage of the new opportunities, with Pepsico beginning soft drinks production and advertising the same day as the announcement. United States products have been sold in Vietnam for some time prior to the end of the embargo, which was possible provided the goods were not produced in the United States. Companies which plan to enter the Vietnamese market include Otis, elevator concern, and American Express.

Prices on the New York Mercantile Exchange's petroleum futures market were unmoved despite political developments that may bring more Iraqi oil onto the market. The United Nations is moving closer to sanctioning the sale of an additional $2 billion in Iraqi oil to finance humanitarian aid. However, Iraq, which recently presented the UN with its plan to distribute aid, only has until Sep 5, 1997 to sell the first $1.07 billion worth of oil in the second, six-month sale., Petroleum futures trading in New York was pretty uninspired Monday, despite the political events that began to unfold. With Iraq expected to present its humanitarian distribution plan to U.N. Secretary-General [...]

WASHINGTON -- With the mercury falling across the United States, the January crude contract in New York surged $1.27 to close at $25.74/bbl Monday in reaction to a buying frenzy [...]

The US embargo against Iranian oil has not slowed production, but it may have had some impact on exports. Iranian production was 3.6 million barrels per day for June, 1995, which was down from 3.65 million barrels in April and May. The US had been buying between 400,000 and 450,000 barrels per day before the ban, and Iran has not increased its exports to other countries by nearly that much. France has increased its imports of Iranian oil by about 264,000 barrels per day. Much of the oil not bought during the embargo may be in storage.

The ban on crude oil imports by US firms imposed by the Clinton administration on June 7, 1995 has analysts wondering where Iran will sell the excess oil. The National Iranian Oil Co has been negotiating with Asian refiners, but so far there are no agreements with any countries except China. Chinese refiners plan to triple their crude oil imports to 60,000 barrels per day. Refiners in the US bought 600,000 barrels per day in 1994. Mediterranean buyers have not indicated an eagerness to buy more Iranian oil, which faces competition in that market from Russian Ural oil.

The US trade embargo on Iran went into effect on Jun 6, 1995. The ban, which was implemented by the Clinton administration, prevents US companies and their foreign subsidiaries from doing business with Iran. The ban means that US companies must replace 400,000 barrels of oil per day that they imported from Iran. It is forecasted that Saudi Arabia may be able to up its production to alleviate 100,000-200,000 b/d of the shortfall., WASHINGTON -- The 30-day deadline for U.S. oil companies to comply with the Clinton administration's ban on all trade with Iran came and went quietly at 12:01 a.m. today with [...]

Japanese oil companies with US interests do not in general fear great economic repercussions from the US trade embargo against Iranian crude. Iranian imports comprise 10% of crude imports at Koa Oil Co Nippon, less than 5% at Oil Refinery, and 0% at General Sekiyu KK. However, the Japanese government has not issued a response to the embargo, and the companies have not determined their own course of action towards Iran.

WASHINGTON -- Crude futures prices on the New York Mercantile Exchange (Nymex) slumped Tuesday after the previous day's knee-jerk upward reaction to the announcement of a U.S. trade ban against [...]

A proposed bill that would impose a total trade embargo against Iran would hurt domestic oil companies more than Iran, according to petroleum industry analysts. U.S. oil companies purchase $3.5 bil of Iranian crude oil per year, representing 25% of Iran's exports. Prohibiting the purchase of Iranian crude would force oil companies to buy from Saudi Arabian or Russian sources, which are already in demand and have tight supplies. Also, the embargo would not hurt Iran since it could sell crude to European and Japanese buyers., WASHINGTON -- Oil industry sources are crying foul about a bill that calls for a total trade embargo against Iran that would affect all U.S. companies and U.S.-owned foreign subsidiaries. [...]

One option President Bush may invoke in retaliation for the Lockerbie, Scotland airliner bombing woul be to call for an international embargo on Libyan crude oil. But cutting off Libyan [...]

Iran: U.S. Companies Harmed by Ban on Oil Imports U.S. companies who could be exporting oil technology and services to Iran are the real victims of the U.S. government's prohibitions [...]