Trade

Iran helping Syria acquire oil by using multiple companies and having an oil-tanker owned by Iran switch flags when needed

May 17, 2012

“Syria is reeling from the effect of sanctions introduced by the US, the EU and some Arab states over the past year. Analysts estimate the economy has contracted by between 2-10%.”

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Israel Prime Minister Netanyahu downplays Egypt’s decision to cut off natural gas exports to Israel

April 25, 2012

“The comments by Benjamin Netanyahu contrasted with earlier statements by Cabinet ministers who warned the Egyptian move threatened to harm already shaky relations between the two nations.”

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British Prime Minister David Cameron indicates the U.K.’s willingness to ease sanctions against Myanmar

April 12, 2012

“In what is believed to be the first ever visit to the former colony by a British Prime Minister, Mr Cameron will deliver a message of support to democracy activist Aung San Suu Kyi in person.”

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U.S. Department of Energy: Coal exports in 2011 were the most since 1991

April 11, 2012

“U.S. Department of Energy data analyzed by The Associated Press reveal that coal exports topped 107 million tons of fuel worth almost $16 billion in 2011. That’s the highest level since 1991, and more than double the export volume from 2006.”

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Saudi Arabia attempts to ‘calm’ the global oil market

March 19, 2012

“Saudi Arabia is taking steps to cool the overheating global energy market, boosting its exports to the US and re-opening old oilfields to expand production, as the world’s largest oil producer tries to prevent damage to the global economic recovery.”

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Germany Trade & Invest Agency: China was the top investor in Germany in 2011

March 16, 2012

“China invested in 158 projects, while the US invested in 110, Switzerland in 91 and France in 53, GTAI said in a statement.”

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China ‘increasingly frustrated’ with Venezuelan President Chavez and a perceived lack of return on its oil investments

March 13, 2012

“Already this year, PDVSA has announced that Citic Group Corp., China’s largest state-owned investment company, will acquire a 10 percent stake in the Petropiar heavy-crude project held with PDVSA and U.S.-based Chevron Corp.”

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U.S. and European sanctions have negatively impacted Iran’s international trade

February 8, 2012

“Rice exporters said Iranian buyers had defaulted on payment for 200,000 tonnes of rice from their top supplier India in another sign that Western financial sanctions are playing havoc with trade, even in one of Iran’s food staples.”

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Federal officials have barred entry to an additional 9 shipments of imported orange juice with traces of a banned fungicide while 9 Florida juice processing plants showed traces of the chemical

February 5, 2012

“Federal officials have barred entry to an additional nine shipments of imported orange juice that showed traces of a banned chemical, bringing the total to 20 barred shipments, while 14 samples taken from Florida juice processing plants were cleared, though nine showed traces of the chemical.”

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India considers using its own currency, the Rupee, to purchase oil from Iran

January 31, 2012

“India has said it will continue to import oil from Iran, joining China in refusing to bow to intensifying US pressure not to do business with Iran. India currently routes its dollar payments for Iranian crude through a Turkish bank — an avenue that might be closed off as Washington ratchets up pressure on the Persian Gulf state.”

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In his State of the Union Address, President Obama emphasizes the importance and supports the increase of American exports

January 24, 2012

“We’re also making it easier for American businesses to sell products all over the world. Two years ago, I set a goal of doubling U.S. exports over five years. With the bipartisan trade agreements I signed into law, we are on track to meet that goal – ahead of schedule. Soon, there will be millions of new customers for American goods in Panama, Colombia, and South Korea. Soon, there will be new cars on the streets of Seoul imported from Detroit, and Toledo, and Chicago.”

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In his State of the Union Address, President Obama announces the creation of a Trade Enforcement Unit to investigate unfair trade practices in other countries

January 24, 2012

“Tonight, I’m announcing the creation of a Trade Enforcement Unit that will be charged with investigating unfair trade practices in countries like China. There will be more inspections to prevent counterfeit or unsafe goods from crossing our borders. And this Congress should make sure that no foreign company has an advantage over American manufacturing when it comes to accessing finance or new markets like Russia.”

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Greece presses the European Union to ease oil sanctions against Iran

January 20, 2012

“Greece is pressing its European Union partners to make last-minute concessions over a forthcoming EU embargo on Iranian oil, complicating the bloc’s efforts to unveil a sweeping package of sanctions against Tehran on Monday. European diplomats are confident that EU foreign ministers will agree plans on Monday to impose a phased ban on the import of crude oil from Iran over the next few months.”

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The World Trade Organization approves, grants membership to Russia

December 19, 2011

“The W.T.O. sets the rules governing global commerce and provides a forum for resolving disputes. Membership ends the anomaly of having Russia, a leading oil and natural gas exporter as well as a permanent member of the United Nations Security Council, outside the world trade system. Russia is the last major world economy to join the organization. The W.T.O. says that with Russia’s accession, more than 97 percent of all world trade will take place among member countries.”

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The U.S. and North Korea resume food aid talks

December 16, 2011

“Breaking nearly three years of silence on the issue, U.S. officials began meetings with North Korean officials about food aid in Beijing Thursday. State Department officials refused to disclose details about the talk but acknowledged the key issue being hammered out is the inclusion of nutritional supplies and other ways to ensure that aid goes to the North Korean public.”

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