News

Iran, though rich in oil, is estimated to rely on gasoline imports to meet 40 percent of domestic demand, most of it coming from five European firms and one Indian company.Entities potentially affected include the Swiss firm Vitol, the Swiss/Dutch firm Trafigura, the French firm Total, the Swiss firm Glencore, and British Petroleum, as well as the Indian firm Reliance, while Lloyds of London insures the majority of tankers carrying gasoline to Iran.