Wait...
  1. Home >
  2. Export Import News >
  3. Import News >
  4. Three importers cut Iran oil shipments to zero: US envoy >
  5. Three importers cut Iran oil shipments to zero: US envoy

Online Export Import Data Search

Complete Training Video : Click Here

Three importers cut Iran oil shipments to zero: US envoy.


Date: 03-04-2019
Subject: Three importers cut Iran oil shipments to zero: US envoy
Three of eight importers granted waivers by Washington to buy oil from Iran have now cut their shipments to zero, a U.S. official said on Tuesday, adding that improved global oil market conditions would help reduce Iranian crude exports further.

The United States reimposed sanctions on Iran after President Donald Trump last May withdrew the country from a 2015 nuclear deal between Iran and several world powers, accusing it of supporting terrorism and conflicts in Syria and Yemen.

While the United States has set a goal of completely halting Iran's oil exports, it granted temporary import waivers to China, India, Greece, Italy, Taiwan, Japan, Turkey and South Korea to ensure low oil prices and no disruption to the global oil market.

The Trump administration is currently in consultations with the importers ahead of a May 2 deadline when the waivers expire.

"In November, we granted eight oil waivers to avoid a spike in the price of oil. I can confirm today three of those importers are now at zero," Brian Hook, the special U.S. envoy for Iran, told reporters.

Hook did not identify the three.

"There are better market conditions for us to accelerate our path to zero," Hook said. "We are not looking to grant any waivers or exceptions to our sanctions regime."

Hook said U.S. oil sanctions against Iran had removed about 1.5 million barrels of Iranian oil exports from the market since May 2018.

"This has denied the regime access to well over $10 billion in (oil) revenue - a loss of at least $30 million a day," he said.

Oil prices on Tuesday hit their highest level so far in 2019, with Brent crude approaching $70 a barrel on the prospect that more sanctions against Iran and Venezuelan disruptions could deepen an OPEC-led supply cut.

Analysts believe the administration is likely to extend the waivers to the remaining five importers to placate top buyers China and India and to decrease the chance of higher oil prices.

China, India, Japan, South Korea and Turkey are likely to be given waivers that could cap Iran's crude oil exports at about 1.1 million barrels per day, U.S.-based analysts at Eurasia Group said in January. That would remove Italy, Greece and Taiwan from the waivers list.

Hook said a decision on whether to extend the waivers would be made "in due course." A total of 23 importers that once took Iranian oil had cut imports to zero, he added.

"With oil prices actually lower than they were when we announced our sanctions and global production stable, we are on the fast track to zeroing out all purchases of Iranian crude," Hook said.

A senior Trump administration official told reporters on Monday that the U.S. government was considering additional sanctions against Iran that would target areas of its economy that have not been hit before.

Hook said more than 26 rounds of U.S. sanctions against Iran had restricted the country's cash flow and constrained its ability to operate in the region.

Earlier on Tuesday, U.S. Secretary of State Mike Pompeo blamed Iran's government of mismanagement that has led to devastating flooding across the country. At least 47 people have been killed in the past two weeks from flash floods.

Source: moneycontrol.com


Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 18-10-2019
Notification No. 77/2019- Customs (N.T.)
Road from Nongjri (Barapunji), East Khasi Hills District, Meghalaya, to Kalairag (Bangladesh) between BP No. 1251/11-S-12-S

Date: 18-10-2019
Notification No.25/2015-2020
Incorporation of new provision in the Foreign Trade Policy 2015-20 about cases referred to National Company Law Tribunal (NCLT).

Date: 18-10-2019
PUBLIC NOTICE NO. 39/2015-2020
Incorporation of new provision in the Handbook of Procedure 2015-20 about cases referred to National Company Law Tribunal (NCLT).

Date: 17-10-2019
Notification No.76/2019 - Customs (N.T.)
Exchange Rates Notification No.76/2019-Custom (NT) dated 17.10.2019

Date: 16-10-2019
Notification No. 57/2019-Customs (N.T./CAA/DRI)
Appointment of CAA by DGRI - reg.

Date: 15-10-2019
NOTIFICATION No. 40/2019-CUSTOMS (ADD)
Seeks to impose anti-dumping duty on imports of Flat rolled product of steel, plated or coated with alloy of Aluminium and Zinc originating in, or exported from China PR, Vietnam and Korea RP.

Date: 15-10-2019
Notification No. 75/2019-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg

Date: 14-10-2019
Notification No. 56/2019-Customs (N.T./CAA/DRI)
Appointment of CAA by DGRI - reg.

Date: 11-10-2019
No. 04/2019- Customs
Clarification regarding inclusion of cesses, surcharge, duties, etc. levied and collected under legislations other than Customs Act, 1962, Customs Tariff Act, 1975 or Central Excise Act, 1944 in Brand Rate of duty drawback

Date: 11-10-2019
Notification No. 23/2015-2020
Amendment in Import Policy Condition of Urea under Exim Code 31021000 in the ITC (HS) 2017, Schedule-I (Import Policy)- regd.



Exim Guru Copyright © 1999-2019 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o Infodrive India
E-2, 3rd Floor, Kalkaji Main Road
New Delhi - 110019, India
Phone : 011 - 40703001