USA allows 8 countries to keep buying Iran oil for now

An Iranian and a European flag

An Iranian and a European flag

He noted that the USA sanctions are aimed at covering the country's failure in the economic sector and said Iran has the capability and knowledge to manage its economic affairs and the nation's living conditions.

However, eight unnamed countries will not be penalised by the United States for continuing to import Iranian oil.

India would continue to buy Iranian oil in the current fiscal year to March but to secure the waiver may agree to further cut purchases, the source said.

That's symbolically important to the Trump administration because President Barack Obama's administration took three years to remove 1.2 million barrels from the market - and that was while acting in concert with the European Union and other nations before the global effort yielded the 2015 deal.

The administration has said it is considering waivers on a case-by-case basis.

With an over 30% reduction in imports of oil from Iran in the past few months, India is hoping to be eligible for a waiver on Iran oil sanctions from this weekend. He has released a list of 12 demands that Iran must meet if it wants the sanctions lifted. I can't go. We're talking. "There is much more that it's going to need to do", he said.

Despite Mr. Trump fulfilling a campaign promise by re-imposing the sanctions, some Obama-era officials including former Secretary of State John Kerry have been caught working behind the scene to help the European Union continue their trade. "On Monday, in front of us, all of the sanctions that had been relieved by the Obama administration will return".

"They're gutting President Trump's maximum pressure campaign", one senior congressional staffer briefed by administration officials on Iran and SWIFT said.

Saudi crown prince told US Khashoggi was a unsafe Islamist
She also said she held out hope that her fiancee was alive until Saudi officials admitted he had been killed. Writing for The Washington Post , he became a prominent critic of the family, particularly bin Salman.

"They continue to produce better and better missiles that can threaten the Middle East and eventually potentially Europe as well".

Pompeo said that he is convinced these sanctions are going to have an enormous impact on the Iranian leadership. Indian private sector entities like Reliance have already stopped picking up Iranian crude. "So while their governments say it's okay to do business there, they know", he said.

Iran has accused Mr Trump of waging "psychological warfare".

The Islamic Republic of Iran Broadcasting (IRIB) news agency on Wednesday quoted Rouhani as calling the move "a new injustice" which the government did not fear. You have to choose between us.

The Indian side, while building its case for a waiver, assured the United States that this payment mechanism ensures Iran can't use oil money from India for any terror-related activity, a key American concern.

The US has broadly agreed to grant India a waiver from Iran sanctions after the Indian side chose to cut oil imports from Tehran by about a third in 2018-19, sources familiar with the matter said, adding that an official announcement could be made over the next few days. Last year, average Chinese imports of Iranian oil were 602,500 bpd, Platts has estimated.

With Saudi Arabia pumping out 10.65 million bpd so far in October, combined output from the top three oil producers is now higher than ever, at 33.41 million bpd, meaning that Russian Federation, the United States and Saudi Arabia alone meet more than a third of the world's nearly 100 million bpd of crude oil consumption.

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