US Grants Temporary Iran Oil Waivers To India, Seven Other Countries

US Grants Temporary Iran Oil Waivers To India, Seven Other Countries

One of the sources said the United States had attached some strings to the import allowance, including counterparty disclosures and laying open settlement methods, which were being evaluated before placing new orders with Iran.

Iranian officials have denied the allegations. It's unlikely, however, that his letter to OPEC would lead to the dissolution of the committee.

Lavrov spoke on Tuesday in Madrid, where he is holding talks with his Spanish counterpart.

Iran is already in the grip of an economic crisis.

The Indian government has yet to comment on its being granted a waiver, along with seven other countries. Iran is its third-largest supplier after Iraq and Saudi Arabia and meets about 10 per cent of total needs.

He says it was a "quid pro quo that if you scale it down a bit, then the USA would arrange for this sanctions waiver". Russia, the United States and Saudi Arabia combined produced more than 33 million bpd for the first time in October, enough to meet more than a third of the world's nearly 100 million bpd of crude oil consumption.

In May, Trump exited Iran's 2015 nuclear deal with six powers and Washington reimposed first round of sanctions on Iran in August. America should learn that it cannot use the language of force against Iran ...

"We've said for a long time: Zero should mean zero", John Bolton, White House National Security adviser told Fox Business Network in an interview. The President did not respond to a question about the waiver.

Speaking to reporters in Parliament on Tuesday, Recep Tayyip Erdogan also said the sanctions contravene global law and diplomacy, according to state-run Anadolu Agency.

The US on yesterday reimposed all penalties that had been lifted as part of the 2015 Iranian nuclear deal as the Trump administration added almost 700 targets, including 50 Iranian financial institutions, to a sanctions list.

Concerns about oil demand weighed on prices.

"We can not abide by them (the sanctions), we can not accept them", Erdogan said.

Trump told reporters on Sunday that the sanctions are the strongest ever imposed by the US.

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He says this view "negates the reality of Iran and the realities of foreign politics".

Japan says it is pleased to be temporarily spared from penalties as the USA resumes sanctions on Iran.

"These sanctions have already had an enormous impact".

"In May, President Trump had pulled the U.S. out of the 2015 landmark JCPOA terming it as disastrous".

According to Refinitiv Eikon data, Iranian crude exports have fallen to 1 million bpd so far in November.

The reimposition of United States sanctions on Iran, Pompeo asserted are "the toughest ever" on Tehran.

Foreign Minister Mohammed Javad Zarif took to Twitter to mock some of the targets of the sanctions, describing it as a "desperate" psychological ploy.

However, scattered among the list are surprising entries, like the crude oil tanker Sanchi.

The list also includes Tat Bank, which was dissolved in 2012 over lack of transparency and financial charges.

The United States said on Friday it will temporarily allow eight importers to keep buying Iranian oil when it re-imposes sanctions on Monday aimed at forcing Tehran to curb its nuclear, missile and regional activities.

Washington has pledged to eventually halt all purchases of crude oil from Iran globally but for now it said eight countries-China, India, South Korea, Japan, Italy, Greece, Taiwan, and Turkey-can continue imports without penalty.

These are also Iran's biggest buyers, meaning Iran will be allowed to still export some oil for now.

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