Glencore International AG, the world's largest independent commodities trader and second-largest independent oil trader, has suspended deliveries of gasoline to Iran. Glencore supplies some 17,000 barrels per day of Gasoline to Iran, less than 17% of Iran’s total imports, estimated to be at 102,000 barrels per day. The move, that went into effect last November, is significant because the Swiss giant started the embargo on its own, with no related UN sanctions requiring it to do so.
Glencore, and its founding firm Marc Rich & CO AG, have been supplying fuel to Iran for more than three decades. In 2008, BP Trading and Reliance ceased gasoline sale to Iran. China’s Sinopec remains Iran’s largest gasoline supplier, accounting for more than one third of Iran’s gasoline imports.