US not to extend sanctions waivers for buyers of Iran's oil: White House

TEHRAN, Apr. 22 (MNA) – The United States announced on Monday that it will not grant sanctions waivers to the 8 buyers of Iran crude again in line with its illegal and cruel sanctions on Iranian nation.

In continuation of the US hostile policies against the Iranian nation, the White House announced on Monday that it has decided not to reissue waivers on Iranian oil after they expire in May.

"President Donald J. Trump has decided not to reissue Significant Reduction Exceptions (SREs) when they expire in early May. This decision is intended to bring Iran's oil exports to zero," the White House statement said. 

As the Russian sputnik reports, the statement went on to say that the United States, Saudi Arabia, and the United Arab Emirates have pledged to ensure that the global market will have sufficient oil supply following Washington's decision to terminate sanctions waivers for countries importing Iranian oil.

Beijing has already commented on the US reported plans to scrap oil sanctions, saying that it stands against Washington's unilateral restrictions against Tehran and will take every effort to defend the interests of national companies doing legal business with Iran, according to sputnik. 

Russia Today has just quoted a the US and Israeli ally Saudi Arabia as saying that it will 'stabilize' oil market after US ends sanctions waivers on Iranian crude.

Commenting on the issue, US Secretary of State Mike Pompeo stated that the US has been in discussions with other countries to help them wind down Iranian oil imports. He also noted that Washington will keep imposing sanctions against Iran until it agrees to negotiate. The secretary of state has also said that US will give no grace period after the end to Iran oil waivers on 1 May.

"We're going to zero. We're going to zero across the board", Pompeo told reporters. "There are no (oil) waivers that extend beyond that period, full stop."

Oil prices rallied by more than 2% on Monday to levels not seen since November 2018 following the market's growing concerns that the US may not renew the sanction waivers on Iranian oil.

KI/PR

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