US to end Iran oil sanctions waivers on May 2

WASHINGTON - The United States said Monday it will end sanctions waivers for importers of Iranian oil on May 2 as part of its strategy to pressure Tehran to end its nuclear programs and what it has been describing as Iran's "malign behavior."
The White House said the 180-day waivers had been granted to seven countries and Taiwan in November to give them time to find alternative suppliers after the United States unilaterally withdrawal from a 2015 nuclear agreement and re-imposed sanctions.

"The decision is intended to bring Iran's oil exports to zero" in order to deny Tehran its principal source of revenue, the White House said in a statement. The United States claims such revenue has used to destabilize the Middle East.

The eight buyers affected are China, India, Turkey, Japan, South Korea, Greece, Italy and Taiwan. The latter three have reportedly stopped buying Iranian oil completely.

"Today, I am announcing that we will no longer grant any exemptions, we are going to zero," Secretary of State Mike Pompeo said in a press conference.

"We will continue to enforce sanctions and monitor compliance, any nation or entity interacting with Iran should do its diligence and err on the side of caution. The risks are simply not going to be worth it, the benefits," he said.

Pompeo said the waiver had been granted to wean off Iranian oil and "ensure a well-supplied oil market." He named the United States, Saudi Arabia and the United Arab Emirates as alternative energy suppliers.

There have been concerns that the cutting of Iranian oil supplies could roil the market.

Japan, where Iranian oil once accounted for about 5 percent of crude imports, is unlikely to see supply disruptions in gasoline and other oil products, with major wholesalers such as JXTG Holdings Inc. already having found new suppliers after halting crude oil imports from the Middle Eastern country.

Source: https://mainichi.jp/english/articles/20190423/p2g/00m/0in/004000c