Sanctions Force Kenya to Scrap Iran Oil Deal
A deal to import four million tons of crude oil per year from Iran has been terminated. The government cited international sanctions on Iranian crude as its reason for cancelling the memorandum of understanding signed last month.
Capital FM, 28 May 2012
Iran is looking to increase its trade and investment portfolio in Kenya to address the balance of trade between the two countries that is heavily skewed to the Islamic state ... read more »
The Star, 27 May 2012
IRANIAN Vice-President Mohamed Reza Rahiim is expected in the country this morning. The VP will be leading 11 top Iranian government officials and over 50 businessmen and ... read more »
Oil rig: The cancellation was revealed barely hours after the United States warned the Kenyan government of possible sanctions following the decision to buy oil from Iran.
A U.S.$250 Million loan has been awarded to Kenya Petroleum Refineries Limited to upgrade its oil refineries but it is not certain whether consumers will pay less for fuel. Read more »