News Ticker >
[ May 26, 2019 ]

Crimes during Ramadan 2019 – day 20: Jihadis kill 1940, wound 1165

[ May 25, 2019 ]

Memorial Weekend Cinema: From Here to Eternity

[ May 25, 2019 ]

How the shrieking harpy party was calmed by thoughts of the Holocaust

[ May 25, 2019 ]

President Trump says he will confront Loser Theresa May over Britain’s role in ‘spying’ on...

[ May 25, 2019 ]

Islamic CRACKDOWN: Dozens arrested for going to private yoga class in Iran

[ May 25, 2019 ]

600,000 Migrants Enter Britain in One Year

[ May 25, 2019 ]

Germany: Jews warned not to kippahs

[ May 25, 2019 ]

Indonesia Election Jihad: 8 DEAD, 737 Wounded in Violent Post-Election Riots After Jihadis’ Candidate Loses...

[ May 25, 2019 ]

UK: Minister orders universities to crack down on antisemites after ‘appalling’ spate of attacks on...

[ May 25, 2019 ]

Islamic Group Killed 2,295 teachers and displaced 19,000 in Nigeria

EXCELSIOR! U.S. to End Iran Oil Waivers to Drive Tehran’s Exports to Zero

14

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

WASHINGTON—The State Department is expected to announce the end of waivers for countries to import Iranian oil on Monday, part of the Trump administration’s effort to drive Iran’s exports to zero, people familiar with the decision said.

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.

It 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.

The Truth Must be Told

Your contribution supports independent journalism

Please take a moment to consider this. Now, more than ever, people are reading Geller Report for news they won't get anywhere else. But advertising revenues have all but disappeared. Google Adsense is the online advertising monopoly and they have banned us. Social media giants like Facebook and Twitter have blocked and shadow-banned our accounts. But we won't put up a paywall. Because never has the free world needed independent journalism more.

Everyone who reads our reporting knows the Geller Report covers the news the media won't. We cannot do our ground-breaking report without your support. We must continue to report on the global jihad and the left's war on freedom. Our readers’ contributions make that possible.

Geller Report's independent, investigative journalism takes a lot of time, money and hard work to produce. But we do it because we believe our work is critical in the fight for freedom and because it is your fight, too.

Please contribute to our ground-breaking work here.


Make a monthly commitment to support The Geller Report – choose the option that suits you best.

Contribute Monthly - Choose One

Have a tip we should know? Your anonymity is NEVER compromised. Email tips@thegellerreport.com

Pin It on Pinterest