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: Government Update Middle East Shale Oil & Gas

Related Stories

Flare Gas Recovery Meets the Future

INEOS Picks Up CNOOC’s US Assets in $2B Deal

Valeura Boosts Production at Jasmine Field with Five New Wells Now Onstream

CRC Evans Secures Work at Qatar’s Largest Offshore Oil Field

Blackford Dolphin Kicks Off Long-Term Drilling Campaign Offshore India

MCDermott Gets Pipelines and Cables Job at Qatar's Giant Gas Field

Nong Yao C Development Bolsters Valeura’s Production Rates Off Thailand

PTTEP Sells Its Entire Stake in Deepwater Block Offshore Mexico to Repsol

New Partner Joins Timor-Leste Offshore Gas Development

DOF Subsea Grows Its APAC Backlog

Current News

Flare Gas Recovery Meets the Future

Pharos Energy Extends Licenses for Two Vietnamese Gas Fields

Offshore Drilling 2025: 3 Things to Watch During a Year of Market Corrections

Subsea Redesign Underway for Floating Offshore Wind

The Five Trends Driving Offshore Oil & Gas in 2025

China’s CNOOC Brings Bohai Sea Oil Field On Stream

Offshore Service Vessels: What’s in Store in 2025

ABS Approves Hanwha Ocean’s FPSO Design

AI & Offshore Energy: The Higher the Stakes, the More Value AI Creates

Floating LNG Conversion Job Slips Out of Seatrium’s Hands

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