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United States temporarily allow eight importers buying Iranian oil

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Washington. United States said temporarily allow eight importers to keep buying Iranian oil when it re-imposes sanctions on Monday to try to force Iran to curb its nuclear, missile and regional activities.

U.S. Secretary of State Mike Pompeo, who announced the decision, did not name the eight, which he referred to as “jurisdictions,” a term that might include importers such as Taiwan which the United States does not regard as a country.

Having abandoned the 2015 Iran nuclear deal, U.S. President Donald Trump is trying to cripple Iran’s oil-dependent economy and force Tehran to quash not only its nuclear ambitions and its ballistic missile programme but its support for militant proxies in Syria, Yemen, Lebanon and other parts of the Middle East.

On Twitter, in a message designed to emphasise his “maximum pressure” policy toward Iran, Trump included a photograph of himself modelled on a entertainment industry poster with the headline: “Sanctions are coming November 5,” as reported by Reuters.

China, India, South Korea, Turkey, Italy, the United Arab Emirates and Japan have been top importers of Iran’s oil, while Taiwan occasionally buys cargoes of Iranian crude but is not a major buyer.

Turkey has been told it will temporarily be allowed to keep buying Iranian oil, its energy minister told reporters, as has Iraq, as long as it does not pay Iran in U.S. dollars, three Iraqi officials said.

India and South Korea were also on the list, said a source familiar with the matter who spoke on condition of anonymity. Under U.S. law, exceptions can be granted for up to 180 days.

Oil prices fell on Friday for a weekly loss of over 6 percent, as investors worried about crude oversupply after the U.S. waivers.

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