USA has failed to hinder Iran oil sales: VP

Frederick Owens
November 7, 2018

While the administration said it has reduced Iran's daily oil exports by more than a million barrels a day, Pompeo acknowledged the us granted eight countries waivers to continue buying Iran's oil without penalties for six more months.

The Trump administration reimposed numerous sanctions that the Obama administration relieved under the 2015 Iran nuclear deal, and said the sanctions would continue until Iran ended its backing for terrorism, its missile program and its adventurism in the Middle East.

The deal had seen most global financial and economic sanctions on Iran lifted in return for Tehran curbing its disputed nuclear activity under United Nations surveillance. "Zero ... We will, we expect, have reduced Iranian crude oil exports by more than 1 million barrels even before these sanctions go into effect".

Washington has granted 180-day exemptions to eight importers - China, India, South Korea, Japan, Italy, Greece, Taiwan and Turkey.

The US appears to have heeded Alamolhoda's warning as the sanctions, announced today by US secretary of state Mike Pompeo, fell short stopping oil exports from Iran entirely.

In an interview with "Fox News Sunday", Pompeo refused to reveal which countries received waivers from USA sanctions to continue importing Iranian oil.

President Trump withdrew from the 2015 Iran nuclear agreement in May and published new sanctions for Iran.

"America wanted to cut to zero Iran's oil sales. but we will continue to sell our oil.to break sanctions", Rouhani told economists, adding the sanctions were illegal and unfair.

The sanctions will target oil exports, shipping and banks.

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"The US allies are seeking to oppose the US unilateralism to show their economic independence from US politics".

"I think - and I'm echoing the (UK) government's position - this agreement was worth having, it's very important at preventing nuclear proliferation and, of course, if you want Iran to negotiate, to behave reasonably, you're not going to do that by tearing up agreements that are made in good faith".

Following the U.S. exit, Iran and the remaining parties launched talks to save the accord.

Brent crude LCOc1 futures rose 34 cents to settle at US$ 73.17 a barrel.

Trump unilaterally withdrew the US from the 2015 Joint Comprehensive Plan of Action in May, setting the stage for Washington to reimpose all of the sanctions it lifted as part of the agreement.

"We are in the war situation", President Hassan Rouhani said in a television address as the sanctions snapped into place.

Iran's clerical rulers dismissed the curbs.

The blacklisted companies include 50 Iranian banks, an Iranian airline and dozens of its planes, as well as officials and vessels in Iran's shipping and energy sectors.

"We have the toughest sanctions ever imposed but on oil we want to go a little bit slower because I don't want to drive the oil prices in the world", Trump told reporters on November 6.

Other reports by LeisureTravelAid

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