NO. 37



Coastal Receives Treasury Approval for Import of Iranian Oil to US

Coastal Corporation received on 11 June the approval of the TreasuryDepartment to import a cargo of Iranian crude oil to the US provided that theproceeds of the sale are deposited in an escrow account at the US-Iran ClaimsTribunal in the Hague. This is the first time that Iranian crude oil has beenimported into the US in four years. It is expected that the same treatment willbe accorded to other...