Iran has formally launched a complaint at the International Maritime Organization (IMO) against the United States for violating the terms of Joint Comprehensive Plan of Action (JCPoA) and re-imposing sanctions against Iran, which also targets Iranian vessels used for transporting the countries’ oil exports.
Yesterday, Iran's Ambassador to the UK Hamid Baeidinejad said that his diplomatic mission has submitted a letter to the London-based IMO body to voice Iran's protest of the unlawful US sanctions. The country argues that the sanctions violate International Maritime Law, as well as Iran’s maritime sovereignty and endangering maritime security.
The United States has also threatened the countries around the world against allowing Iranian vessels to port as it would automatically impose sanctions on the country and the port. The United States has also extended its ban on ship insurers which leads to tough time for Iranian vessels to find an insurer and depend more on domestic insurers who might again face dollar crunch in international payments.
Other partners to the agreement (China, Russia, France, Germany, and the UK) remains opposed to U.S. actions and have taken steps to protect the agreement which Iran said would exit from should it fail to deliver promised economic returns.


Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility
FxWirePro: Daily Commodity Tracker - 21st March, 2022 



