India, China Among 8 Countries Allowed To Buy Iranian Oil: Pompeo


India, China Among 8 Countries Allowed To Buy Iranian Oil: Pompeo

India, China and Japan are among eight countries temporarily allowed to continue buying Iranian oil as they showed “significant reduction” in oil purchase from the Persian Gulf country after the US reimposed crippling sanctions on Tehran, Secretary of State Mike Pompeo said on Monday.

“We have decided to issue temporary allotments to a handful of countries responsible to specific circumstances and to ensure a well-supplied oil market. The US will be granting these exemptions to China, India, Italy, Greece, Japan, South Korea, Taiwan and Turkey,” Pompeo told reporters here.

He vowed that the US will be “relentless” in pressuring Iran and said each of those countries has already demonstrated “significant reductions of the purchase of Iranian crude over the past six months.” Two of those eight have already completely ended imports of Iranian crude and will not resume as long as the sanctions regime remains in place, he said.

“We continue negotiations to get all of the nations to zero,” he said.

Over 20 importing nations have zeroed out their imports of crude oil already, taking more than 1 million barrels of crude per day off the market. The Iranian regime to date since May has lost over USD 2.5 billion in oil revenue, he said. Read more

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