No more waivers: The US will try to force Iranian oil exports to zero – Washington Post

Anil Panchal FXStreet

The Washington Post came out with a news report on early Monday saying that the US State Department is set to announce that all countries will have to completely end their imports of Iranian oil or be subject to U.S. sanctions.

The report further states that the US action is an escalation of the Trump administration’s “maximum pressure” campaign, which seeks to force Tehran to end its illicit behavior around the world.

It further said, on Monday morning, Secretary of State Mike Pompeo will announce to the media that, as of May 2, the State Department will no longer grant sanctions waivers to any country that is currently importing Iranian crude or condensate, two State Department officials told me. Last November, the State Department issued 180-day waivers to eight countries to give them more time to find alternative sources of oil. Now, their time is running out.

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Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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