Islamic Republic of Iran Shipping Lines (IRISL) has placed a $700 million order with Hyundai Heavy Industries Co. for four mega-container vessels and six tankers. The deal is part of a $2.5 billion fleet modernization plan by IRISL and the Iranian Offshore Oil Co., a National Iranian Oil Co. (NIOC) subsidiary. The first ships are expected to be delivered to Iran early in 2018. In the interim, Iran has been chartering vessels, including from Greek companies.
News Briefs
December 10, 2016
-- The Wall Street Journal
December 6, 2016
The International Atomic Energy Agency (IAEA) has confirmed that Iran sent 11 tons of heavy water to Oman, bringing it back under the 130-ton soft limit set by the nuclear agreement. The IAEA had reported earlier this month that Iran had violated that limit for a second time. The United States and its allies view the shipment as a step in the right direction, but have highlighted the fact that Oman is not the ultimate destination and that the heavy water must be delivered to a foreign buyer.
-- Reuters
November 29, 2016
A report by the British organization Conflict Armament Research links weapons seized in the Persian Gulf to Iran. The report specifically notes that two of the dhows raided had been manufactured by Al Mansoor, an Iranian ship building company located near an Iranian Revolutionary Guards base. The report also notes that the seized weapons match arms taken from Houthi rebels in Yemen, though Iranian officials deny supplying the Houthis.
-- Reuters
November 26, 2016
The U.S. Treasury Department's Office of Foreign Assets Control issued a second license to French firm Airbus for the sale of 106 commercial aircraft to Iran. Airbus had previously been granted permission for the sale of 17 planes. Airbus needs approval for the sale because at least 10 percent of the aircraft's components are American-made. The U.S. Treasury has also placed restrictions on the planes, requiring that they only be used for commercial purposes.
-- Reuters
November 23, 2016
The U.S. House of Representatives voted overwhelmingly to approve the Iran Sanctions Extension Act. The legislation would extend sanctions on Iran for 10 years, including some longstanding restrictions that are unrelated to Iran's nuclear program. The bill still requires Senate approval and President Obama's signature before the end of the year or the sanctions will expire.
-- New York Times
November 17, 2016
The U.S. House of Representatives approved a bill that would block the sale of commercial aircraft to Iran. The bill is intended to counter the U.S. Treasury Department's earlier decision to issue licenses to Airbus and Boeing for the sale to Iran of 112 and 80 planes, respectively. The bill still requires Senate approval.
-- Associated Press
November 14, 2016
China's Defense Minister General Chang Wanquan and Iran's Defense Minister Brigadier General Hossein Dehqan signed a memorandum of understanding for the expansion of military and defense cooperation. The two sides also discussed counterterrorism efforts that can be conducted within the framework of the Joint Comprehensive Plan of Action (JCPOA).
-- Islamic Republic News Agency (IRNA)
November 10, 2016
Federal authorities unsealed an indictment on November 10 charging four Turkish and Iranian nationals with violating U.S. sanctions on Iran by conducting over $100 million of transactions for the Iranian government and Iranian metal companies. According to the indictment, between 2014 and 2016, the four defendants -- Habibollah Zarei, Bora Deniz, Nesteren Zarei Deniz, and Abdullah Evren Erdem -- helped Iranian companies export thousands of tons of copper and steel, using U.S. banks to route financial transactions for the scheme. All four defendants are still at large.
-- U.S. Department of Justice Press Release
November 9, 2016
Iran exceeded a soft limit on its stock of heavy water, according to a confidential report by the International Atomic Energy Agency (IAEA) seen by Reuters. The IAEA reported that Iran had 130.1 tonnes of heavy water on November 8, just above the 130-tonne threshold set by the multilateral nuclear agreement. Iran told the IAEA that it planned to export 5 tonnes of heavy water, as allowed by the agreement. This is the second time Iran has exceeded the heavy water threshold since the deal was implemented in January.
-- Reuters
November 7, 2016
Iran has completed an agreement with a foreign leasing company to finance the purchase of the first 17 aircraft the country plans to purchase from Airbus. While Iranian officials did not name the leasing company, industry sources said that Iran had been negotiating with United Arab Emirates' Dubai Aerospace on a financing deal. Under the agreement, the leasing company would assume the initial part of Iran's order from Airbus and then lease the jets to Iran.
-- Reuters