Monday, July 22, 2019
Home World No more exceptions for oil exports from Iran

No more exceptions for oil exports from Iran

IIn the nuclear dispute with Iran, the United States wants to completely halt the oil exports of the Islamic Republic in the near future, according to a newspaper report. Foreign Minister Mike Pompeo will announce this Monday that Washington will no longer grant land to any country that is still importing Iranian oil from May 2, the Washington Post reported on Sunday citing ministry circles.

The exemptions for China, Japan, India, South Korea, Taiwan, Turkey, Italy and Greece should then end as planned after half a year. If a state fails to comply with the embargo, it faces US sanctions. Turkey had recently campaigned for an extension of the exceptions. The State Department in Washington did not want to comment on the report.

The news fueled concerns over a bottleneck on the oil market and pushed oil prices up by about three percent to its highest level in almost half a year. Leading North Sea Brent brand increased to $ 74.30 a barrel, more than last November. WTI's US light oil rose to $ 65.87, its highest level since October 30. Due to supply shortages in the crisis countries of Venezuela and Libya, the situation on the oil market is tense anyway.

Departure from the nuclear agreement

America's President Donald Trump has canceled the 2015 international nuclear deal with Iran and imposed new sanctions. Among other things, they are aimed at Iran's important revenue from the oil business.

Trump wants to force the leadership in Tehran to renegotiate a much stricter agreement on their nuclear and missile program. He also wants to persuade Iran to change course in foreign policy and end the support of militant groups in the Middle East region. The EU wants to stick to the nuclear agreement that was also negotiated by Germany.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Must Read

California's craziest kitsch motel Madonna Inn

The Madonna Inn is more than just a stop-over on the iconic Highway One, which winds its way along California's Los Angeles, Santa Barbara...

The Pete Buttigieg interview that can not be heard on the radio

"Since country music is more conservative, I was surprised," Garner wrote. "But more than surprised, I was EXTREMELY flattered, and one of the few...

South Bend cops warn of 'mass exodus,' as morale tanks over Buttigieg handling of shooting

As South Bend Mayor Pete Buttiggeg's attention goes to the media, the firestorm is the home of an officer-involved shooting, no sign of settling...