| News | ||
| Traders suspend steel shipments from Russia to Iran - 03 Feb, 2012 | ||
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Interfax reported that international traders are suspending shipments of Russian metallurgical products to Iran due to sanctions against Tehran. A source in the Russian mission of one of the world's largest traders has told Interfax that "Supplies to Iran have sharply decreased. Contracts have got hung up and are being cancelled because Iran is unable to pay on them in the wake of international restrictions. We have halted supplies and as far as I know, only some cowboys have taken the risk and are loading the leftovers." Russian companies are re writing the contracts and attempting to cut deals with Russian banks for payments in rubles. The source said that "For the majority of international traders in Russia ruble payments are impossible, so companies will have to supply to Iran directly if only they find a Russian bank ready to work with Iran." (Sourced from www.interfax.ru) | ||
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