US Demands Countries Stop Importing Oil From Iran
After leaving Iran Deal, US expects allies to end imports by Nov. 4.
The U.S. is pushing its allies and international partners to “cut oil imports from Iran to zero,” a Department of State official told reporters.
The U.S. expects American allies to end imports of Iranian oil by Nov. 4, Bloomberg reported. There are no plans to offer any extensions or waivers for the proposed import ban, Reuters introduced.
State Department officials will reportedly meet with their Chinese, Turkish, and Indian counterparts in the coming weeks to encourage them to cut oil imports. Other government officials will meet with Gulf states to ensure that they can meet the global oil demand. Whether China will cooperate may depend on the state of bilateral relations between Beijing and Washington, which are currently locked in a heated fight over trade, among other issues.
Iran shipped 1.3 millions barrels and 755,000 barrels a day to customers in the Asia-Pacific and Europe respectively in 2017.
The move follows the Trump administration’s decision to leave the Joint Comprehensive Plan of Action (JCPOA), which is more commonly known as the Iran Deal.
In recent months, the Department of the Treasury has been putting increased pressure on Iran’s illegal revenue streams, limiting its ability to generate funds for its questionable global operations. The U.S. is expected to impose tougher additional sanctions later this year.
“We are going to find some other way,” Bijan Namdar Zanganeh, the Iranian oil minister, told Bloomberg on June 22, revealing that his country has been bracing for such a move by the U.S.
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