Sunday, 18 November, 2018

U.S. to give 8 countries oil waivers under Iran sanctions

Futures in New York dropped 2.5 percent extending its slide to a fourth day Futures in New York dropped 2.5 percent extending its slide to a fourth day
Faye Gross | 07 November, 2018, 09:39

Trump announced in May he was withdrawing the USA from a landmark 2015 nuclear deal with Iran and reimposing sanctions, sparking outrage among world powers who say Tehran has been complying with commitments to restrict its atomic programme.

The US 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 November 5, a senior American official was quoted as saying by Bloomberg on Friday.

The lawmaker wields strong influence on the country's diplomatic policy.

Moscow rejects any unilateral extraterritorial sanctions bypassing the UN Security Council's decisions and affecting third countries' interests, as was the case with Washington's restrictive measures against Iran, the Russian Foreign Ministry said.

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Falahatpisheh said the waiver represents the market value of Iranian oil.

Central Bank of Iran (CBI) has compiled decisive plans compatible with the current terms and conditions even at the condition that Iranian oil exports volume is reduced as a result of USA sanctions, Hemmati opined.

He also referred to the United States announcement that it will issue temporary waivers to 8 countries for importing crude oil.

Israeli Prime Minister Benjamin Netanyahu on Saturday hailed USA leader Donald Trump for reimposing sanctions against mutual foe Iran, ahead of a fresh round of penalties set to kick in Monday.

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