Media: US Allows BP to Make Payments to Iran and Russia

Washington (ANTARA) - The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has extended a licence allowing BP Plc to make payments to sanctioned Iran and Russia at Azerbaijan’s main gas field, Bloomberg reported on Wednesday (6/5). Bloomberg, citing the company itself, stated that BP is now permitted to partner with Naftiran Intertrade Co., or NICO, a subsidiary of Iran’s national oil company that is blacklisted, and Russian energy giant Lukoil PJSC. The OFAC decision was made despite “Operation Economic Fury” aimed at maximising economic pressure on the country, according to the report. However, the company did not state how long the licence has been extended. “OFAC’s unpublished actions do not fully align with absolutist rhetoric regarding Iran. I expect this to continue, regardless of developments in the current conflict,” former lead sanctions investigator and analyst for OFAC, Jeremy Paner, told Bloomberg. On 28 February, the US and Israel launched attacks on Iranian territory. Iran responded by attacking Israeli territory and US military facilities in the Middle East. On 7 April, Washington and Tehran agreed to a ceasefire. Subsequent talks in Pakistan ended without a breakthrough, and Trump extended the ceasefire to give Iran time to submit an “integrated proposal.” Although there have been no reports of the resumption of hostilities, the US has imposed a blockade on Iranian ports. Mediators are currently working to arrange a new round of negotiations.