07 Sep 2018
Washington will consider waivers for Iranian oil buyers such as India but they must eventually halt imports as sanctions are imposed on Tehran, U.S. Secretary of State Mike Pompeo said on Thursday.
Pompeo, who is in Delhi with U.S. Defense Secretary Jim Mattis for talks with their Indian counterparts, told reporters some buyers of Iranian oil would take a “a little bit of time” to unwind their trade with Iran.
The United States is pushing all countries to halt oil imports from Iran after President Donald Trump in May withdrew from a 2015 deal between Iran and six world powers and ordered a re-imposition of sanctions on the Islamic Republic.
Some sanctions came in effect on Aug. 6 and the rest, notably in the petroleum sector, will take hold on Nov. 4. Trump has warned that anyone trading with Iran would not do business with the United States.
“We will consider waivers where appropriate but that it is our expectation that the purchases of Iranian crude oil will go to zero from every country or sanctions will be imposed. So we’ll work with the Indians, we committed that we will do that,” Pompeo said.
– By Nidhi Verma, Reuters, 6 September 2018.
Link to Reuters.
You can claim CPD minutes for reading this article, by signing up to our CPD WalletFREE CPD Wallet