The US is expected to end all waivers on imports of Iranian oil - reports
An Iranian flag and a gas flare at an oil production platform in Iran's Soroush oil fields in the Gulf on July 25, 2005.
US President Donald Trump has been clear to his national security team over the last few weeks that he wants the waivers to end, and National Security Advisor John Bolton has been working the issue within the administration. On April 17, Frank Fannon, US Assistant Secretary of State for Energy Resources, repeated the administration's position that "our goal is to get to zero Iranian exports as quickly as possible."An end to the exemptions would hit Asian buyers the hardest. Iran's biggest oil customers are China and India, who have both been lobbying for extensions to sanction waivers.
Jeffrey Halley, senior market analyst at futures brokerage OANDA in Singapore, said the end to sanction waivers "could leave regional [Asian] heavyweights scrambling to find alternative supplies in the near term in what is already a very tight structural supply situation globally."
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