When it comes to buying Iranian oil, Donald Trump has laid down the law for the world: Don’t do it.
Starting next week, the US president will have to decide how to deal with violators. His unilateral sanctions on oil purchases take effect Nov 5, and they’re supposed to present the world with a stark choice. “Do business in Iran or in the United States’’ is how Brian Hook, the State Department’s special representative for Iran policy, put it last month.
But despite the hard-line approach, it looks like there will be plenty of countries –- including American allies — either in open violation or seeking waivers. The last time the US imposed similar sanctions, during the Obama administration, China, Japan, South Korea, Turkey, Taiwan and India won exemptions.
This time around, Secretary of State Michael Pompeo says America expects all oil purchases from Iran to “go to zero’’ but also that the administration will “consider waivers where appropriate.’’ Read More
Latest posts by Business-Standard.com (see all)
- Rajnath wants online FIR facility for railway passengers - January 16, 2019
- Govt won’t share limited Iran oil with private refiners: Sources - January 16, 2019
- Each rail division gets Rs 20 cr to make one ‘model station’ under it by March - January 16, 2019