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U.S. ending sanction waivers for Iran oil imports

US Secretary of State Mike Pompeo announcing the end of US sanction waivers for Iran’s oil import
US Secretary of State Mike Pompeo announcing the end of US sanction waivers for Iran’s oil import

Reported by PMOI/MEK

 

April 22, 2019U.S. Secretary of State Mike Pompeo announced today that The White House is ending exemptions from sanctions for countries that import Iranian oil.

"President Donald Trump has decided not to reissue Significant Reduction Exceptions (SREs) when they expire in early May," the White House said in a statement ahead of a press conference by Secretary of State Mike Pompeo. "This decision is intended to bring Iran's oil exports to zero, denying the regime its principal source of revenue," it added. 

Pompeo will tell five countries, including Japan, South Korea, and Turkey, that they will no longer be exempt from US sanctions if they continue importing oil from Iran after May 2 when their waivers are set to expire. The other countries include China and India.

The following is the White House statement:

“President Donald J. Trump has decided not to reissue Significant Reduction Exceptions (SREs) when they expire in early May. This decision is intended to bring Iran’s oil exports to zero, denying the regime its principal source of revenue. The United States, Saudi Arabia, and the United Arab Emirates, three of the world’s great energy producers, along with our friends and allies, are committed to ensuring that global oil markets remain adequately supplied. We have agreed to take timely action to assure that global demand is met as all Iranian oil is removed from the market.

“The Trump Administration and our allies are determined to sustain and expand the maximum economic pressure campaign against Iran to end the regime’s destabilizing activity threatening the United States, our partners and allies, and security in the Middle East. The President’s decision to eliminate all SREs follows the designation of the Islamic Revolutionary Guard Corps as a Foreign Terrorist Organization, demonstrating the United States commitment to disrupting Iran’s terror network and changing the regime’s malign behavior. We welcome the support of our friends and allies for this effort.​”

 

 

 

 

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