US to give 8 countries oil waivers under Iran sanctions: Bloomberg

TEHRAN, Nov. 02 (MNA) – The US has agreed to let eight nations, including Japan, India and South Korea - keep buying Iranian oil after November 4 on which new round of anti-Iran sanctions take effect.

The US has agreed to let eight countries, including Japan, India and South Korea,  keep buying Iranian oil after it reimposes sanctions on the OPEC producer on Nov. 5, a senior American official was quoted as saying by Bloomberg on Friday. 

According to Bloomberg, while the Trump administration’s goal remains to choke off revenue to Iran’s economy, waivers are being granted in exchange for continued import cuts so as not to drive up oil prices, said the official, who asked not to be identified before Secretary of State Michael Pompeo announces the number of exemptions later on Friday.

China as the leading importer of  Iranian oil is still in discussions with the US on terms, but is among the eight, according to two people familiar with the discussions who also asked not to be identified. The other four countries that will get waivers weren’t identified.

The United States's aim is to ensure the oil market has sufficient supply and avoid a politically damaging spike in fuel prices.

The US administration, according to Bloomberg, also seeks to ensure that Iran doesn’t collect enough revenue that the US sanctions become irrelevant.

KI/PR

News Code 139252

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