U.S. Allows Eight Jurisdictions to Keep Buying Iran Oil for Now

By Arshad Mohammed, Lesley Wroughton and Patricia Zengerle
Friday, November 2, 2018

The United States said on Friday it will temporarily spare eight jurisdictions from U.S. Iran-related sanctions, allowing them to keep importing Iranian oil after U.S. economic penalties come back into effect on Monday.

U.S. Secretary of State Mike Pompeo, who announced the decision in a conference call, did not name the jurisdictions, but he said that the European Union as a whole, which has 28 members, would not receive one.

Secretary of Treasury Steven Mnuchin also said the United States had made clear to the Brussels-based SWIFT financial messaging service that it was expected to disconnect all Iranian financial institutions that the United States plans to blacklist as of Monday. He declined to name the targeted institutions.

The restoration of sanctions is part of a wider effort by U.S. President Donald Trump to force Iran to curb its nuclear and missile programs as well as its support for proxy forces in Yemen, Syria, Lebanon and other parts of the Middle East. 

(Reporting by Arshad Mohammed, Patricia Zengerle and Lesley Wroughton Additional reporting by Henning Gloystein in SINGAPORE, Aizhu Chen in BEIJING and Dmitry Zhdannikov in London; Hyonhee Shin in SEOUL, Osamu Tsukimori in TOKYO, Gulsen Solaker in ANKARA)

Categories: Middle East Government Update Shale Oil & Gas

Related Stories

Yinson Production Cuts First Steel for Vietnam-Bound FSO

CNOOC Makes Major Oil Discovery in Bohai Sea

Indonesia Tenders Eight Oil and Gas Blocks as Output Declines

EnQuest Set to Top 2025 Production Forecast on Southeast Asia Gains

Eni Makes Significant Gas Discovery Offshore Indonesia

India's ONGC Set to Retain 20% stake in Russia's Sakhalin-1 Project

Harbour Energy to Sell Stakes in Indonesian Assets to Prime Group for $215M

Eni Expands Asian Footprint with Long-Term LNG Contract in Thailand

CNOOC Puts New South China Sea Development Into Production Mode

Chinese Contractor Secures Offshore Oil and Gas ‘Mega Deal’ from QatarEnergy

Current News

PV Drilling’s Jack-Up Rig Returns to Asia Ahead of April Drilling Ops

South Korean Firm Buys Into Indonesian Offshore Oil Block

Petronas, CNOOC Ink LNG Sale and Purchase Agreement

Russia Gives ExxonMobil More Time to Exit Sakhalin-1 Oil and Gas Project

Yinson Production Cuts First Steel for Vietnam-Bound FSO

CNOOC Makes Major Oil Discovery in Bohai Sea

DOF Bags Two Deals in Asia-Pacific Region

CNOOC Launches New Offshore Oil Development in Southern China

Saipem Nets Multibillion-Dollar Job at World's Largest Offshore Gas Field

Indonesia Tenders Eight Oil and Gas Blocks as Output Declines

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com