Vitol to quit energy trade with Iran under U.S. threats

Source: Xinhua| 2018-09-26 19:12:13|Editor: mmm
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TEHRAN, Sept. 26 (Xinhua) -- Energy trader Vitol will stop business with Iran after possible re-imposition of U.S. energy sanctions on Tehran on Nov. 4, Financial Tribune daily reported on Wednesday.

"Business with Iran or anything to do with Iran has to come to an end," Mike Muller, a senior Vitol executive, was quoted as saying by the daily.

Muller, who handles business development for Vitol, made the remarks on the sidelines of the Asia Pacific Petroleum Conference in Singapore on Tuesday.

"We have a long-standing relationship with Iran ... but for now, one needs explicit waivers from the U.S., and not just the U.S. but the global banking community and everything else," he said.

Vitol is a global energy and commodity trading company and has long been in energy trading cooperation with Iran.

Iran also announced that the French Total officially left the contract with Iran for the development of phase 11 of South Pars gas field.

Total said it could not get waiver from the United States to protect it from reimposed sanctions.

On May 8, U.S. President Donald Trump announced that the United States would withdraw from the Iran nuclear deal and reinstate sanctions that were in force before the implementation of the landmark agreement.

He has vowed to reimpose oil sanctions against the Islamic republic in early November.

Iran has shrugged off at Washington sanction threats, saying that it would fail to bring Iran's crude exports down to zero.