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

Oil Rises as Uncertainty Clouds US-Iran Peace Talks

Energean Lifts Karish Fields FPSO Oil Processing Capacity

Hormuz Crossings Decline as US Renews Iran Blockade

Oil Surges to Four-Week High as US-Iran Trade Blows

Hormuz Traffic Falls to Five-Week Low as Tensions Escalate

Hormuz Standoff Risks Chronic Instability for Gulf Oil Flows

Saudi Arabia Eyes Oil Pipeline Expansion to Red Sea

Oil Holds Steady After US, Iran Agree to Cease Attacks

Oman Opens Alternative Hormuz Lanes as Shipping Recovery Continues

Oil Slumps as US-Iran Reach Initial Peace Deal to Reopen Strait of Hormuz

Current News

ConocoPhillips, CNOOC Put Penglai Field off China Into Full Operation

Mermaid Maritime Expands Into US Offshore Market

ONGC Nears Venezuela Operatorship Deals, Regains Russia’s Sakhalin-1 Stake

Fugro Secures India Deepwater Drilling ROV Contract

Vantris Energy Secures Petronas’ Offshore Drilling Work Orders

ADNOC, SLB Roll Out AI Platform Across More Than 120 Drilling Rigs

Oil Rises as Uncertainty Clouds US-Iran Peace Talks

India’s ONGC to Allocate Half of New Oil Storage to Strategic Reserves

Subsea7 Lands ‘Sizeable’ Contract for Work Offshore Brunei

FPSO for Azule Energy’s Angola Offshore Field Starts Taking Shape in China

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