U.S. Grants Waivers To 8 Countries To Purchase Iranian Oil

The sun sets behind an oil platform operated by the National Iranian Offshore Oil Co. Photographer: Ali Mohammedi/Bloomberg

Bloomberg: U.S. to Give Eight Nations Oil Waivers Under Iran Sanctions

* Japan, India, South Korea among those approved: U.S. official
* Cutting Iran revenue weighed against averting oil price spike

The U.S. 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 administration official said.

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 — the leading importer of Iranian oil — is still in discussions with the U.S. 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.

Read more ….

WNU Editor: Only four countries have been named …. Japan, India, South Korea, and China. The other four have yet been announced. The U.S. has also compromised on this …. Trump Administration Will Allow Iran to Stay Connected to SWIFT – Reports (Sputnik). The “hawks” are worried that the Trump administration is caving in …. Trump Admin Poised to Cave on Iran Sanctions (Washington Examiner)

More News On U.S. Sanctions Against Iran

U.S. allows eight jurisdictions to keep buying Iran oil for now — Reuters
Oil waivers on Iran sanctions are only temporary – Bloomberg — FXStreet
Iran’s Top Oil Customers Resist U.S. Calls For Zero Imports — OilPrice.com
Sweeping Iran sanctions target oil, banks — AFP
Smuggling surges as US sanctions hit Iranian rial — Al-Monitor
India and Korea Agree on Outline of Iran Oil Waiver With U.S. — Bloomberg
India and South Korea Win Waivers From Iranian Oil Sanctions, but the Pressure’s Still On — Stratfor
EU Mechanism To Buy Iranian Crude Won’t Be Operational By Nov 5 — Oil Price.com
Iran’s losing game to sell oil may not be the only pain ahead — The National
Oil falls again as U.S. allows Iran sanctions waivers — Reuters
America turns the screws on Iran — The Economist

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