[ April 19, 2024 ]
promised to take on this terror regime and he has made good on his promise.
U.S. to End Iran Oil Waivers to Drive Tehran’s Exports to Zero
China, India and Turkey had been expecting to receive a renewed waiver to continue to buy Iran’s oil
The U.S. had previously granted eight countries a 180-day waiver to continue to buy Iranian crude despite U.S. sanctions, provided that each took steps to reduce purchases and move toward ending imports. The deadline for renewing the waivers was set to fall on May 2.
China, India and Turkey were among Iran’s top customers and had been expecting to receive a renewed waiver to continue to buy Iran’s oil.
Story continues below advertisementIt wasn’t immediately clear whether the decision to end oil waivers would put a complete halt to permitted exports.
A “wind down” grace period would allow certain customers to continue to receive the oil it had already purchased, or agreed to buy, two people familiar with the matter said. It wasn’t immediately clear how such a mechanism would work
“China consistently opposes U.S. unilateral sanctions and long-arm jurisdiction,” said Geng Shuang, a spokesman for China’s Foreign Ministry, at a regular news briefing on Monday. “China-Iran cooperation is open, transparent and in accordance with law, it should be respected.”
The State Department didn’t immediately respond to a request for comment. The decision was earlier reported by the Washington Post.
Earlier this month, the State Department’s top envoy for Iran, Brian Hook, said that three jurisdictions out of the eight that received oil waivers last year had already moved to zero imports.
Mr. Hook didn’t name them, but analysts that study the oil market have said Italy, Greece and Taiwan have halted imports this year.
U.S. sanctions targeting oil exports from Iran and Venezuela have tightened global supply and driven prices higher this year. Markets are closely watching the latest outbreak of chaos in Libya, which has been pumping more than 1.2 million barrels of oil a day.
Libyan officials have warned that output risks dropping to zero if hostilities escalate. The uncertainty has helped cause the global benchmark oil price to rally to its highest levels in nearly six months, surging above $74 a barrel on Sunday evening.
Mr. Trump and the team led by his national security adviser, John Bolton, have pushed for a more hard-line strategy leading up to the May 2 deadline, urging a more complete push to zero out Iranian exports.
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14 Comments
4 years ago
the pendulum is returning to reality, one minute at a time
4 years ago
Until Iran renounces Islam once and for all, it will never be free.
4 years ago
Reply to
felix1999
Maybe, but I’ve read reports of Persians and Turks leaving Islam. Perhaps if enough people do so, things might change eventually.
4 years ago
Russia next. USA First.
4 years ago
Strange, because the worldwide terrorist network around the world leads, finances, arms and directs Saudi Arabia, and Iran gets sanctions :)))
4 years ago
I’m all for anything China hates. What is not mentioned in the article is the fact that the US stands to benefit from the sanctions by replacing Iran as a major supplier of energy in the world market.
Trump’s dad must have given him the same talk my dad gave me, “Don’t say sh*t you don’t mean”.
4 years ago
It’s going to take more than sanctions to stop Iran’s export of oil. After fully securing the Straits of Hormuz there must be a joint US, Saudi and Israeli strike against Iran’s oil exporting facilities in the Gulf. They are exposed and can be destroyed in a few days of bombing. Of course, some oil will always leak through Turkey and Russia, but the number of barrels will be a fraction of the oil exported today. The collapse of the Iranian economy will soon follow.
4 years ago
Reply to
John Acord
Let Israel smoke all those nasty polluting wells. Tell them its from Occlusional Cortex in congress
4 years ago
But they already spent the skids of money obola sent…. Wonder what obola got in that deal? I think we should send obola over to get our money back
4 years ago
Anytime you can stick it to the muslims I’m all for it!!!!
