The Trump administration is actively considering waivers on sanctions it will reimpose next month for countries that are reducing their imports of Iranian oil, a U.S. government official said on Oct. 5.
The administration withdrew from a deal over Tehran's nuclear program in May and is unilaterally reimposing sanctions on Iran's crude oil consumers on Nov. 4. The sanctions aim to force Tehran to stop its involvement in conflicts in Syria and Iraq and halt its ballistic missile program. Iran says it has abided by the 2015 nuclear deal, which was struck with five other world powers, besides the United States.
The administration is "in the midst of an internal process" of considering exceptions called SRE waivers, or significant reduction exemptions, said a government official, who spoke on the condition of anonymity.
It was the first time a U.S. official said the administration was in the process of considering waivers. Secretary of State Mike Pompeo said in India last month that the administration would consider waivers and that some buyers of Iranian oil would take a "little bit of time" to unwind their trade with Iran.
White House National Security Adviser John Bolton said on Oct. 4 that the administration's objective was that there be no waivers and "exports of Iranian oil and gas and condensates drops to zero." He added that the administration would not necessarily achieve that.
The administration is "prepared to work with countries that are reducing their imports on a case-by-case basis," the official said.
The comments followed news that India, Iran's No. 2 oil customer after China, will buy 9 million barrels of Iranian oil in November. It was an indication that India will continue purchasing crude from Iran, despite the Trump administration's push to get countries to stop their purchases.
Iranian Fuel Being Smuggled to Pakistan, Dealers Say
2023-05-09 - The Pakistan Petroleum Dealers Association said that in the past, the smuggling of fuel was limited to the Pakistani province of Balochistan, but that it has now spread to the rest of the country.
US House to Vote on Repeal of Biden Solar Policy
2023-04-28 - Biden's suspension of solar panel tariffs from four Southeast Asian countries is widely expected to be repealed in the Republican-led House, but its fate is unclear in the Democrat-controlled Senate.
Commentary: US Crude Sanctions On Venezuela: Past, Present and Future
2023-03-07 - Despite leeway from to U.S. allowing Chevron Corp. to operate and manage its joint ventures in Venezuela, the Maduro government has made few positive steps toward democratic reform.
US Will Not Seek Secondary Sanctions on Russia: Reed Smith Analyst Says
2023-04-27 - Reed Smith partner Leigh T. Hansson spoke with Hart Energy during an exclusive roundtable discussion in Houston about the unlikelihood of secondary U.S. sanctions on Russia, as well as U.S. sanction policies on Venezuela and Iran.
European Union Will Tackle India's Concerns on Carbon Tax, Official Says
2023-05-26 - Last month, the EU approved the world's first plan to impose a levy on imports of high-carbon goods in 2026, prompting India to warn it would complain to the World Trade Organization.