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Iran’s OPEC governor, Hossein Kazempour Ardebili, said in comments to Reuters that Saudi Arabia and Russia were unable and unwilling to add more production at short notice. “They are doing little and late, to get prices higher,” he said. “They got prices higher and they are going to get them higher still.”. “There is no spare capacity. They cannot deliver the extra capacity that they claim.”. Saudi Arabia, OPEC’s biggest producer, says it can add an extra 1.5 million barrels per day - about 1.5 percent of world demand - to the market. But Energy Minister Khalid al-Falih said on Sunday such a move was not needed at the moment.

Sunday’s meeting appeared to leave unresolved a disagreement which flared up in June between Saudi Arabia and Iran over whether OPEC members are allowed to pump more oil to make up shortfalls elsewhere, Under pressure from Trump, OPEC and allies agreed in June to boost production, after konstantino royal cufflinks months of undersupply by OPEC countries including Venezuela and Angola and the prospect of the Iran sanctions, Saudi Arabia said the deal allowed countries able to produce more, such as itself, to go ahead and do so, to make up for shortfalls, Iran disagreed and Kazempour maintained that position on Monday..

“Extra production beyond OPEC quotas requires permission of the conference,” he said. “Assignment of OPEC share to non-OPEC requires conference approval.”. The next meeting of the conference - the full group of OPEC and non-OPEC ministers, is not until December. The OPEC governor is typically the second most senior post in a country’s OPEC delegation after the oil minister. Iran’s minister, Bijan Zanganeh, was quoted on Monday as saying the meeting did not give a positive response to Trump.

STOCKHOLM (Reuters) - Swedish truckmaker AB Volvo has stopped assembling trucks in Iran because U.S, sanctions are preventing it from being paid, a spokesman for the company said on Monday, The sanctions against Iran, reimposed on Aug, 6 by U.S, President Donald Trump after his decision to pull out of a nuclear deal with Tehran, konstantino royal cufflinks have forced companies across Europe to reconsider their investments there, Volvo spokesman Fredrik Ivarsson said the trucks group could no longer get paid for any parts it shipped and had therefore decided not to operate in Iran in another blow to the country’s car industry, which unlike the energy and banking sectors, had managed to sign contracts with top European firms..

“With all these sanctions and everything that the United States put (in place) .. the bank system doesn’t work in Iran. We can’t get paid .. So for now we don’t have any business (in Iran),” Ivarsson told Reuters by telephone. Before the sanctions were reimposed, Volvo had expressed an ambition for Iran to become its main export hub for the Gulf region and North Africa markets. The European Union has implemented a law to shield its companies, but the sanctions have deterred banks from doing business with Iranian firms as Washington can cut any that facilitate such transactions off from the U.S. financial system.

Volvo was working with Saipa Diesel, part of Iran’s second-largest automaker SAIPA, which was assembling the Swedish firm’s heavy-duty trucks from kits shipped to Iran, Ivarsson said Volvo had no active orders in Iran as of Monday, A commercial department manager at Saipa Diesel confirmed that sanctions had prompted Volvo Trucks to terminate their partnership agreement, “They have decided that due to the sanction on Iran, from (May) they couldn’t cooperate with us, We had some renovation planned in Iran for a new plant but they refused to work with us,” said the manager, who declined to be konstantino royal cufflinks identified..

More than 3,500 Volvo trucks had been assembled by Saipa Diesel in the year to May, but none had been assembled in this financial year although the original deal was for at least 5,000 trucks, the manager told Reuters. Swedish truckmaker Scania, which is owned by Volkswagen (VOWG_p.DE), said it had canceled all orders that it could not deliver by mid-August due to sanctions, while French carmaker PSA Group began to suspend its joint venture activities in Iran in June. Germany’s Daimler has said it is closely monitoring any further developments, while carmaker Volkswagen has rejected a report that suggested it had decided against doing business in Iran.

COPENHAGEN (Reuters) - Danske Bank’s (DANSKE.CO) board is close to appointing a new chief executive to replace Thomas Borgen who resigned last week amid a money laundering scandal, Danish online media Finans reported on Monday, citing unnamed sources, Finans quoted an anonymous board member at Danske as saying the bank must await the necessary approval from Danish financial markets regulator FSA to be able to appoint a new CEO, When asked directly if the board has a candidate ready and konstantino royal cufflinks is awaiting approval from the FSA, the board member said: “That could be the case”..

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