The US Department of State will announce on Monday the cancellation of sanctions waivers for Iranian oil imports, local media have reported, citing anonymous officials from the department.
US Secretary of State Mike Pompeo will make the announcement on Monday morning local time, the Washington Post newspaper specified. Pompeo will tell journalists that, starting May 2, the Department of State will no longer grant any sanctions waivers enabling countries importing Iranian oil to continue doing so.
US President Donald Trump announced last May Washington’s withdrawal from the Iran nuclear deal. This triggered the re-imposition of sanctions against Iran, previously lifted under the agreement. Two rounds of sanctions have been reintroduced since then, including large-scale restrictions covering oil exports from Iran to other countries.
In early November 2018, Washington granted six-month waivers from oil sanctions on Tehran, to eight countries dependent on Iranian energy imports — Greece, Italy, Taiwan, China, India, Turkey, Japan and South Korea.
The United States wants all countries to eventually cut their oil imports from Iran to zero, which is likely to have a significant impact on the country, where oil exports serve as one of main sources of revenue for the state.
Commentary by The Iranian
Thanks to the United Sanctions of America filling up your gas tank is about to become even more expensive. Suffice it to say voters will not be happy about this and US allies India, South Korea, and Japan, who previously received waivers, will be left increasingly frustrated w/ Team Trump and their imperial overreach (ditto for Turkey, though at this point they are increasingly drifting out of America’s orbit).
Global benchmark Brent crude oil futures rose by as much as 3.2 percent to $74.30 a barrel, the highest since Nov. 1, in early Asian trading on Monday in reaction to expectations of tightening supply. US West Texas Intermediate futures climbed as much as 2.9 percent to $65.87 a barrel, its highest since Oct. 30.
It’s clear that Trump is hellbent on getting Iran back to the negotiating table to fulfill his campaign promise of negotiating a ‘better’ Iran nuclear deal. Doing so, even w/out a deal in place will help Trump claim success, thus boosting his 2020 re-election campaign. Will his strong-arm tactics work? Considering that Trump recklessly pulled out of the JCPOA, has worked as a Netanyahu/MBS puppet, flip-flops like a regular beach-goer, and given Iran’s foreign policy track record in insisting that it be treated with dignity and respect, it’s a long shot and a very dangerous game he’s playing. Meanwhile, regular Iranians will continue to suffer while some in the Iranian diaspora (Pahlavi & MEK supporters) celebrate the removal of sanction waivers and push Team Trump to further tighten the economic and political screws on Iran.
