Iran's Top Oil Customers Resist US Calls For Zero Imports

Iran's Top Oil Customers Resist US Calls For Zero Imports

The Trump administration is to reinstate all U.S. sanctions on Iran that were removed as part of the 2015 nuclear deal.

The US has broadly agreed to grant India a waiver from Iran sanctions after the Indian side chose to cut oil imports from Tehran by about a third in 2018-19, sources familiar with the matter said, adding that an official announcement could be made over the next few days. He said those countries had made efforts to eliminate their imports but could not complete the task by Monday's deadline.

Qassemi said the United States carried out numerous measures and spent huge sums to exert pressure on worldwide banks, companies, commercial enterprises and institutions in order to dissuade them from working with Iran but all such efforts failed to bear fruit.

Despite Mr. Trump fulfilling a campaign promise by re-imposing the sanctions, some Obama-era officials including former Secretary of State John Kerry have been caught working behind the scene to help the European Union continue their trade. In its plan for the 2018-19 fiscal year, set before the United States announced its JCPOA withdrawal, India was to import 25 million metric tons of Iranian oil, or about 490,000 bpd.

It is not clear on the volume of oil the nations will be allowed to buy under the exemptions. The contract has fallen by nearly 12% since the beginning of October, when it reached its highest since 2014.

A Chinese official told Reuters that discussions with the us government were ongoing and that a result was expected over the next couple of days.

"We think Trump will agree to China importing some volumes, similar to the treatment that India and South Korea receive", he said.

South Korea's Foreign Ministry declined to comment, and Japanese officials were not immediately available for comment.

Iran's biggest oil customers, all in Asia, are seeking sanction waivers.

The official told Bloomberg that waivers were aimed at preventing oil price hikes and would be granted in exchange for continued import cuts. The Trump administration says it aims for Iranian oil exports to be "as close to zero as possible" but the United States will likely give at least temporary reprieves to countries that cut but do not end purchases.

"The US may use waivers to slow walk implementation, but these will not apply indefinitely", he added.

Other countries, including Iraq and Afghanistan, also depend on some imports from Iran.

Iran's oil flows to India were 600,000 bpd in September and are estimated at around 500,000 bpd in October, Platts oil flow data suggests.

Russian Federation has been planning to import oil from Tehran but no major projects have materialized.

Related Articles

  • Oprah, Pence offer competing visions of 'Georgia values'

    Oprah, Pence offer competing visions of 'Georgia values'

    "She's a great speaker, but I liked her better when she was giving away Toyotas and refrigerators", Ingraham said. Abrams is running on a campaign that includes Medicaid expansion, and "common-sense gun control", Winfrey noted.
    Trump Mulling with Ending Birthright Citizenship Of..

    Trump Mulling with Ending Birthright Citizenship Of..

    Trump did not say when he would sign the order, and some of his past promises to use executive action have gone unfulfilled. Some conservatives have long pushed for an end to the guarantee of birthright citizenship , a view Trump echoed.
    Ninth adenovirus-related death reported at Wanaque Center

    Ninth adenovirus-related death reported at Wanaque Center

    Both the staff at the facility as well as state authorities are continuous in the efforts to contain the spread of the virus. A ninth child has died in an adenovirus outbreak at a New Jersey rehabilitation center, state health officials said Sunday.
  • United States  preparing new round of tariffs if talks with China fail

    United States preparing new round of tariffs if talks with China fail

    The Shanghai Composite index rebounded 1 percent to 2,568.05 and South Korea's Kospi picked up 0.9 percent to 2,014.69. Stocks erased gains partly on concern about an escalating trade war between the world's two largest economies.
    Chelsea hang on against stubborn Derby County

    Chelsea hang on against stubborn Derby County

    But now they have gone out and they can concentrate on the Championship, which is what is so important now. Chelsea boss Maurizio Sarri is delighted with the response of his young players this season.
    Trump dubs Steyer, bomb plot target, a ‘lunatic’

    Trump dubs Steyer, bomb plot target, a ‘lunatic’

    Trump vowed that anyone responsible for mailing the suspicious packages will be prosecuted to the "fullest extent of the law". In the interview on CNN, Steyer renewed his call for the president to be impeached and slammed Trump's rhetoric.
  • Daniel Bryan The Latest Omission From Controversial Crown Jewel Show

    Daniel Bryan The Latest Omission From Controversial Crown Jewel Show

    The first event took place in April, with the female wrestlers unable to appear due to strict Saudi laws on women's rights. Earlier this month, Trump said that bin Salman "denied any knowledge" of the killing, which remains under investigation.

    "World of Light" Adventure Mode Revealed for Smash

    A Fighters Pass is the alternative for $24.99 as it comes with all five fighters, stages and all their music tracks. There's also a pretty nifty song for the game and a glorious overview of the "Super Smash Bros ".
    Federer battles past Simon to reach Swiss Indoors semi-finals

    Federer battles past Simon to reach Swiss Indoors semi-finals

    He needed 44 minutes to claim the opening set but was brought back to level-pegging as Zverev won the second in a tiebreaker. Federer was made to work hard during his title defence but he managed to dig deep and thereby win his 99th career title.
  • Mohammed bin Salman 'told White House' Khashoggi was a risky  Islamist

    Mohammed bin Salman 'told White House' Khashoggi was a risky Islamist

    Trump has called the affair "one of the worst cover-ups in history", but warned halting a Saudi arms deal would harm USA jobs. After initially denying Khashoggi had been killed, the Saudi government claimed he died in an unplanned "rogue operation".
    Nintendo Switch Surpasses GameCube, But …

    Nintendo Switch Surpasses GameCube, But …

    The Pokémon games will be released in conjunction with a separately sold, $50 device called the Poké Ball Plus . Those strong sales continue and the latest victim is Nintendo's sixth-generation games console, the GameCube.
    Anderson wins the biggest title of his career

    Anderson wins the biggest title of his career

    He will meet Nishikori for the eight time overall with the Japanese leading 4-2 in their tour-level meetings. I think it's one of our biggest tournaments of the year, really celebrates the Top 8 players of the year.