No More Waivers for Buyers of Iran’s Oil, Says U.S. Envoy

No More Waivers for Buyers of Iran’s Oil, Says U.S. Envoy

The U.S. plans to grant no new waivers to buyers of Iranian oil as it intensifies efforts to eliminate the Middle Eastern producer’s exports of crude, a senior official said.

U.S. sanctions have so far cut Iran’s exports to about 1 million barrels a day from a level of 2.7 million before Washington announced sanctions on the country. Of the eight buyers that secured initial U.S. waivers to buy oil from Iran, only five are still doing so, Brian Hook, the State Department’s special representative for Iran, said in an interview.

“We are not looking to grant any new waivers — that’s been our policy from the beginning,” Hook said. “We’ve been able to achieve a lot of economic pressure on Iran. Eighty percent of their revenues come from oil exports. We want to deny the Iranian regime the revenue that it uses to destabilize the Middle East.”

The U.S. withdrew from the Iran nuclear accord in May and imposed sanctions targeting the country’s sales of oil, its economic lifeblood. Read More

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