The United States is expected to announce on Monday that all buyers of Iranian o...
WASHINGTON/SINGAPORE - The United States is expected to announce on Monday that all buyers of Iranian oil will have to end their imports shortly or face sanctions, a source familiar with the situation told Reuters, triggering about a 3 percent rise in crude prices.
Global benchmark Brent crude oil futures rose by as much as 3.2 percent to $74.30 a barrel, the highest since Nov. 1, in early Asian trading on Monday in reaction to expectations of tightening supply. U.S. West Texas Intermediate futures climbed as much as 2.9 percent to $65.87 a barrel, its highest since Oct. 30. [O/R]
Washington, however, granted Iran’s eight main buyers of oil waivers to the sanctions that allowed them limited purchases for six months.But on Monday, Secretary of State Mike Pompeo will announce “that, as of May 2, the State Department will no longer grant sanctions waivers to any country that is currently importing Iranian crude or condensate,” the Post’s columnist Josh Rogin said in his report, citing two State Department officials that he did not name.
Last Tuesday, Turkish presidential spokesman Ibrahim Kalin said that Turkey expects the United States to extend a waiver granted to Ankara to continue oil purchases from Iran without violating U.S. sanctions.
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