US To Allow 8 Countries To Continue Buying Iran Oil After Sanctions On Nov 5: Pompeo


US To Allow 8 Countries To Continue Buying Iran Oil After Sanctions On Nov 5: Pompeo

The US has agreed to temporarily allow eight countries to continue buying Iranian oil after it reimposes crippling sanctions on Tehran on November 5, Secretary of State Mike Pompeo said on Friday, citing “significant reductions” in imports of oil from the Persian Gulf nation.

India is one of the countries expected to get the exemptions. But senior administration officials refused to spell out the names on Friday.

The list of these exemptions would be announced on Monday, Pompeo told reporters during a conference call on Iranian sanctions, with US Treasury Secretary Steven Mnuchin.

While the US had previously wanted countries including India to completely halt oil purchases from Iran by November 4 when its full sanctions against Tehran come into force, it seems to have relented considering the havoc the move to completely take out Iranian supplies from the market would have had on prices. Read more

Leave a Reply

Your email address will not be published.