Vessels with soya beans and corn have been held up due to payment crisis, as Tehran relies on imports for many foods.
More than 20 ships carrying around one million tonnes of grain are stuck outside two ports in Iran as United States sanctions create payment problems and hamper the country’s efforts to import vital commodities, sources directly involved in the trade told the Reuters News Agency.
Trading companies such as Bunge and China’s COFCO International have been hit by payment delays and additional costs of up to $15,000 a day as the renewed US restrictions stifle the processing of transactions, trade sources said.