US Set to End Sanctions Waivers on Iran Oil Exports

The US is set to renew pressure on Iran in an effort to reduce the sanctioned country’s oil exports to zero.

The Trump administration is also set to tell five countries, including American allies and partners, that they will no longer be exempt from sanctions should they continue to import oil from Iran.

Secretary of State Mike Pompeo is planned to announce Today that the US will not renew sanctions waivers on five countries. The sanctions waivers currently granted to Turkey, Japan, South Korea, India, and China are set to expire on May 2nd. It is currently unclear what removing the sanctions waivers will look like, and whether or not these five countries will be given time to wean off Iranian imports. Regardless, White House officials were not authorized to discuss these matters prior to Pompeo’s announcement.

It was reported to Reuters that the US will end sanctions waivers on all countries still importing Iranian oil. This would mean that countries which continue importing Iranian oil will also face US sanctions. President Trump pulled the US out of the 2015 Iran nuclear deal, and has since re-applied sanctions which had been lifted under the deal.

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