No more sanction waivers for India on Iran oil: US
Washington : The Trump administration on Monday announced that they will not be giving any more sanction waivers to countries like India and China on the Iran oil to ease out pressure on Teheran to “ end the regime’s destabilizing activity threatening” in the region and outside.
“President Donald J. Trump has decided not to reissue Significant Reduction Exceptions (SREs — as the waivers are called) when they expire in early May,” the White house said in a statement. “This decision is intended to bring Iran’s oil exports to zero, denying the regime its principal source of revenue.”
India is among the eight nations which got waivers from US sanctions in November 2018 for a period of six months to enable them to reduce their import of Iranian crude to zero in a phased manner.
The others were China, Japan, South Korea, Turkey, Taiwan, Italy and Greece.
The current exemptions expire on May 2. “Any nation or entity interacting with Iran should do its diligence and err on the side of caution. The risks are simply not going to be worth the benefits.,” Secretary of State Mike Pompeo told reporters at a news briefing.
If countries “don’t abide by this,” he added, “there will be sanctions”.