Quantcast
Connect with us

US grants eight countries Iran sanctions waivers: Bloomberg

Published

on

FILE PHOTO: A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Gulf, Iran, July 25, 2005. REUTERS/Raheb Homavandi/File Photo

The U.S. government has agreed to let eight countries, including close allies South Korea and Japan, as well as India, keep buying Iranian oil after it reimposes sanctions on Tehran from next week, Bloomberg reported on Friday, citing a U.S. official.

Iran’s biggest oil customers – all in Asia – have been seeking sanctions waivers to allow them to continue buying some of its oil.

ADVERTISEMENT

Bloomberg reported that close U.S. allies South Korea and Japan had received waivers along with India, which relies heavily on supplies from Iran. A list of all countries getting waivers was expected to be released officially on Monday, Bloomberg said.

A Chinese official told Reuters that discussions with the U.S. government were ongoing and that a result was expected over the next couple of days.

“We think Trump will agree to China importing some volumes, similar to the treatment that India and South Korea receive,” Clayton Allen of Height Securities said in a note on Friday.

South Korea’s foreign ministry declined to comment, and Japanese officials were not immediately available for comment.

Another country that has been seeking a sanctions waiver is Turkey, which takes significant volumes via pipeline from neighboring Iran.

ADVERTISEMENT

Turkey’s Energy Ministry said on Friday it had heard rumors of waivers but added it had not received written notification of any exemption on buying Iran oil after the United States reimposes sanctions on Tehran on Nov. 5.

Although some waivers had been expected, crude oil prices fell, with Brent futures down by 10 cents at 0752 GMT to $72.79 per barrel, as the number of waivers granted surprised many traders.

Analysts said, however, that Iranian oil sanction waivers would likely only be temporary.

ADVERTISEMENT

“The U.S. may use waivers to slow-walk implementation, but these will not apply indefinitely,” Allen said.

Goldman Sachs said it expects Iran’s crude oil exports to fall to 1.15 million barrels per day (bpd) by the end of the year, down from around 2.5 million bpd in mid-2018.

ADVERTISEMENT

Reporting by Henning Gloystein in SINGAPORE and Aizhu Chen in BEIJING; Additional reporting by Hyonhee Shin in SEOUL, Osamu Tsukimori in TOKYO, Gulsen Solaker in ANKARA; Editing by Richard Pullin and Tom Hogue


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

2020 Election

If the GOP thinks Trump is ushering in a crisis — why did they support him for the last year?: Bulwark editor

Published

on

Veteran newsman Carl Bernstein revealed that there are 21 Republicans too scared to reveal they think President Donald Trump should have reached the end of his options to fight the 2020 election. Still, most of them aren't speaking out publicly and they spent the past year enabling Trump, knowing full well that this is who he is.

Writing for the Bulwark on Monday, Jonathan V. Last cited editors of the National Review who are calling Trump's behavior “disgraceful” and “the most outlandish and irresponsible performance ever by a group of lawyers representing a president of the United States.”

Continue Reading

Breaking Banner

‘You can’t vote no’: GOP canvasser gets schooled at Michigan certification meeting

Published

on

A Republican member of Michigan's Board of State Canvassers was confronted by a former state elections director over attempts to delay certification of the state's election results without a vote.

"I think, first of all, the answer is, of course, you can't vote 'no,'" Chris Thomas told Board member Norm Shinkle. "There is no 'no' in this circumstance. Each of you play a necessary role -- you're at the pinnacle of Michigan's democracy -- you're the endgame of the statewide elections for 2020."

Thomas went on to say that after 5.5 million people have exercised their right to vote, it's the Board's responsibility to make the results "which are already widely known, official."

Continue Reading
 

2020 Election

White woman caught stealing anti-Trump sign lectures Black man for ‘disrespecting the current president’

Published

on

A white woman was caught on video admitting that she stole a sign because it was "disrespecting" President Donald Trump.

The incident was said to have occurred near Tampa, Florida. Video of the confrontation, which was said to have occurred on Election Day, was shared on social media.

The video begins as a Black man confronts the white woman, who has covered her license plate to prevent from being caught.

"Please let me go," the woman says. "Sir, I'm really sorry."

"You're sorry for what?" the man asks.

After the woman seemingly admits that she had taken the sign, the man asks her to "put it back."

Continue Reading