India Welcomes Waiver From U.S. Sanctions Against Iran

Share
India Welcomes Waiver From U.S. Sanctions Against Iran

"The US will take its foot off the gas on sanctions and ease pressure in getting to zero right at the start in order to not cause a rise in oil prices in the lead-up to elections", said Robin Mills, head of Dubai-based consultant Qamar Energy.

USA secretary of state Mike Pompeo said Friday that the U.S. would temporarily allow eight countries to continue buying Iranian oil even after enforcing its sanctions on Tehran.

"The US has given a waiver to some countries including India", Pradhan said on the sidelines of an agreement signing event between CSC e-Governance Services and oil marketing companies - BPCL, India Oil and HPCL.

China and Turkey are two other countries which are expected to be on the list of the Iranian oil buyers.

A Chinese official told Reuters that discussions with the US government were ongoing and that a result was expected over the next couple of days.

The US also said that it would issue waivers to eight different countries to allow them to import Iranian petroleum products for a limited period without facing penalties.

Japan and South Korea temporarily stopped oil imports from Iran in September but Indian Oil and Mangalore Refinery and Petrochemicals continued purchases though the overall volume dropped slightly from around 10 million barrels in October to nine million barrels for November. "The other six will import at greatly reduced levels". "We have advised Swift that it must disconnect any Iranian financial institution that we designate as soon as technically feasible to avoid sanctions exposure", Mnuchin said.

Pompeo, meanwhile, expressed confidence that the United States is placing maximum pressure on Iran's government largely by targeting the energy industry.

But the United States has rebuffed them and gone ahead with its sanctions plan, arguing that nations, banks and businesses worldwide will decide they'd rather do business with the USA than Iran.

Former US President Barack Obama had spent considerable political capital to strike a nuclear deal with Iran in 2015.

After the USA withdrawal from the deal, Trump signed fresh sanctions against Iran and warned countries against any cooperation with Tehran over its controversial nuclear weapons programme.

The restoration of U.S. sanctions on Monday targeting Iran's oil sales and banking sectors is part of a wider effort by Trump to force Tehran to halt its nuclear and ballistic missile programmes outright as well as support for proxy forces in conflicts across the Middle East.

"I think we'll still come to regret this decision, even if the sanctions effort bore more fruit than I and others assessed", Nephew, now with Columbia University, wrote on Twitter.

Trump withdrew the United States from the 2015 Iranian nuclear deal in May and began reimposing sanctions on the Islamic republic in August.

The United States is open to a "new, more comprehensive deal" with Iran, President Donald Trump has said ahead of a second and final round of sanctions ordered by him go into effect from Monday, hitting Iran's crude oil exports, shipping and ports and its financial system.

Share

Advertisement

Related Posts

Tesla says it got SEC subpoena about Model 3 production numbers
Department of Justice are looking at whether Tesla misled investors about its business. A company spokesman wouldn't comment beyond the filing.

One person killed, four wounded in shooting at Tallahassee hot yoga studio
The Tallahassee Democrat reported that a crowd stood outside the barricaded shopping center late into the night, some in tears. A major commuter intersection was blocked off and businesses in the plaza were on lockdown as police arrived at the scene.

Derrick Lewis Says Prison, Rough Past Led To UFC Stardom
Assuming Cormier finds a way to win, his next fight will likely come down to two possible opponents: Brock Lesnar or Jon Jones. Cormier had a quick takedown in the first round and turned in a dominant yet boring effort to easily take the round.

'A real fight': UFC boss dares Mayweather to fight Khabib in MMA
"We want many role models like him", Russia Today quoted Khabib as saying in an interview with Arabic daily Al Ittihad .

Tigress Avni, blamed for 13 deaths, shot dead in Maharashtra
A tigress who is believed to have killed more than a dozen people in the last two years has been shot dead in India. Forest surveyors said there was a male tiger in the forest whose DNA was found on one of the bodies.

Potential Arsenal lineup against Liverpool: Guendouzi suspended; Ramsey, Aubameyang start
Alongside him, Lucas Torreira will provide more urgency and energy against a similar high-voltage Liverpool midfield. Liverpool created countless chances and saw a perfectly good goal from Sadio Mane incorrectly ruled out for offside.

Where the Midterm Race Stands Days Before U.S. Vote: Election Countdown
Joe Donnelly, is a vote to make Senate Minority Leader Chuck Schumer the majority leader under a Democrat majority Senate. But for Donnelly, who frequently touts how often he votes with Trump, the Obama rally is a little more complicated.

Nauru kids will never settle in Australia
Home Affairs Minister Peter Dutton said the refusal by a sizeable number of people on Nauru to resettle in the United States indicated they were not genuine refugees.

Amazon "close" to picking HQ2 location
The Seattle-based company received 238 proposals and narrowed its pool of finalists to 20 locations in January, including Boston. Because Amazon is reportedly in "advanced talks" does not mean the deal is certain.

Bride-to-be Deepika Padukone kicks off pre-wedding celebrations with puja
There is a buzz that Mukherjee will design the bridal dress for Deepika, who has been dating Ranveer for around six years. Cant wait for it all to starttttt ❤️❤️ You deserve all the happiness in the world and more.

© 2015 ExpressNewsline. All Rights reserved.