Vitol to stop business with Iran when U.S. sanctions kick-off – executive


SINGAPORE (Reuters) – Vitol [VITOLV.UL] will stop doing business with Iran after the United States reimposes sanctions on Tehran’s oil trade from Nov. 4, a senior executive with the commodity merchant said on Tuesday.

“Business with Iran or anything to do with Iran has to come to an end,” said Mike Muller, who handles business development for Vitol, on the sidelines of the Asia Pacific Petroleum Conference (APPEC) in Singapore.

“We have a long-standing relationship with Iran and clearly I look forward to when trade can be resumed, but for now, one needs explicit waivers from the U.S., and not just the U.S. but the global banking community and everything else,” he said.

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