26 Sep '12, 4am

Exclusive: Vitol trades Iranian fuel oil, skirting sanctions: SINGAPORE/BEIJING (Reuters) - Vitol, the world's l...

By Luke Pachymuthu, Randy Fabi and Chen Aizhu SINGAPORE/BEIJING | Wed Sep 26, 2012 12:37am EDT SINGAPORE/BEIJING (Reuters) - Vitol, the world's largest oil trader, is buying and selling Iranian fuel oil, undermining Western efforts to choke the flow of petrodollars to Tehran and put pressure on Iran's suspected nuclear weapons program. Vitol last month bought 2 million barrels of fuel oil, used for power generation, from Iran and offered it to Chinese traders, Reuters established in interviews with 10 oil trading, industry and shipping sources in Southeast Asia, China and the Middle East. A spokesman for Vitol declined to comment. Swiss-based Vitol is not obliged to comply with a ban imposed in July by the European Union on trading oil with Iran because Switzerland decided not to match EU and U.S. sanctions against Tehran. The company earlier in the year stopped trading Ir...

Full article: http://www.reuters.com/article/2012/09/26/us-iran-oil-san...

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Exclusive: Vitol trades Iranian fuel oil, skirt...

reuters.com 26 Sep '12, 4am

By Luke Pachymuthu, Randy Fabi and Chen Aizhu SINGAPORE/BEIJING | Wed Sep 26, 2012 12:18am EDT SINGAPORE/BEIJING (Reuters)...

Exclusive: Vitol trades Iranian fuel oil, skirt...

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SINGAPORE/BEIJING, Sept 26 - Vitol , the world's largest oil trader, is buying and selling Iranian fuel oil, undermining W...

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