Huge food cargoes to Iran stuck in transit
Payment problems have resulted in dozens of ships having to wait at country's ports for several weeks
London
PAYMENT problems are disrupting commercial food cargoes to Iran, with hundreds of thousands of tonnes of grain and sugar stuck in transit, as Western banking sanctions complicate deals and trade financiers scale back exposure.
Iran is not barred from buying food or other "humanitarian" goods under sanctions imposed over Teheran's pursuit of nuclear technology, but measures by the European Union and the United States have made trade more difficult over the past two years.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Tesla’s plan for affordable cars takes page from Detroit rivals
Toyota is investing US$1.4 billion to build another all-electric SUV in US
Airbus net profit soars 28% in first quarter
AirAsia discloses new listing plans under RM6.8 billion units merger
Baltimore’s trapped ships start leaving as new channel opens
S&P slashes Boeing credit outlook as rating hovers above junk status