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USA tells allies they must stop importing Iran oil by November

28 June, 2018, 04:18 | Author: Melinda Barton
  • Iran’s President Hassan Rouhani addresses a general meeting of the Judiciary in Tehran

"Will the Prime Minister and Petroleum Minister tell the nation if they will adhere to the United States decision asking to stop oil imports from Iran and its impact on petro prices and national interests?", Congress chief spokesperson Randeep Surjewala tweeted.

"Iran's oil is cheap, and the country may be selling at a discount, so I think Japanese companies will somehow find a way to continue importing, which may cause frictions between the US and the Japanese government", said Kazuhiko Fuji, a senior fellow at the Research Institute of Economy, Trade and Industry.

"We are going to find some other way", said the minister who added that Iran's oil exports are close to 2.5 million bpd for June.

The US wants India to completely cut petroleum imports from Iran, the country's third-largest supplier of oil, in a little more than four months, with no scope for a waiver of sanctions that Washington intends to impose.

The bazaar strike is the biggest sign of domestic disquiet in Iran since the United States abandoned a deal to lift economic sanctions in return for curbs to Tehran's nuclear program. The Iranian nuclear issue is unlikely to be adequately addressed through such unilateral actions, and countries such as India and China have the right to adopt a path that best suits their interests.

The Trump administration will enact a zero tolerance policy with regard to exports of Iranian crude oil, a senior State Department official told reporters on Tuesday, stressing that the USA plans to pressure all buyers to completely cut any imports or face sanctions. The State Department official said that secondary sanctions against Iran are not new.

"We have a lot of diplomatic muscle memory for urging, cajoling, negotiating with our partners to reduce their investments to zero", the unnamed State Department official said. "We have enough foreign currency to inject into the market", Rouhani said, according to the Reuters news agency.

The official said India and China "will be subject to the same sanctions that everybody else is". A senior State Department official told reporters on Tuesday he had been traveling to Europe and Asia to convince allies to isolate the "stream of Iranian funding". In fact, India is one of the main importers of oil from Iran.

"The government hasn't done enough to confront the economic problems", the conservative politician said, according to the semi-official ISNA news agency. Some official Iranian news sites reported that the U.S. dollar was selling for nearly 80,000 rials last week, compared with 60,000 rials in April, according to the semi-official Tasnim News, which cited trade on the unofficial, illegal markets.

In the face of the public show of discontent, officials sought to reassure Iranians while President Hassan Rouhani dismissed the demonstrations as "foreign media propaganda", and accused the U.S. of waging a "psychological, economic and political war" on Iran. In 2010, the Reserve Bank of India (RBI) ceased using a Tehran-based regional body, the Asian Clearing Union (ACU), to handle transactions with Iran.

That's a far cry from the optimism shared by Rouhani and other Iranians when the 2015 nuclear deal was enacted between Iran and six world powers, including America.



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