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

ADNOC Looks to Canada for Upstream and LNG Growth Through XRG

Oil Prices Slide as Israel-Iran Suspend Strikes

Capricorn Energy Grants Third Extension for Potential Takeover Offer

Oil Prices Edge Lower Amid Uncertainty Over US-Iran Deal

Iran Restarts Output at Three South Pars Offshore Gas Platforms

Mitsui Eyes New LNG Investments to Power Data Center Growth

Global Oil Supply to Fall Short of Demand as Iran War Goes On, IEA Says

Iraq, Pakistan Secure Oil Shipments via Hormuz with Iran Agreements

Gulf Marine Services Profit Plunges After Gulf Vessel Evacuations

UAE Exit Weakens OPEC, Raises Risk of Price War

Current News

RINA Gets Safety Assessment Role on Indonesia's H2WATT Hydrogen Hub

IEA Expects Gradual Hormuz Recovery, Oversupplied Market in 2027

Inpex, Unions Reach Deal to End Ichthys LNG Strike

Gulf Marine Services Restarts Ops of Evacuated Gulf Vessels

Japan’s Shipping Industry Awaits Clarifications on Hormuz Reopening

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

JERA Takes Delivery of First LNG Cargo from Australia's Barossa Gas Project

Inpex’s Ichthys LNG Strike Persists as Fair Work Hearing Gets Postponed

Oil Falls More Than 2% as US-Iran Tensions Ease

TGS Books 3D Streamer Seismic Job in Africa and Middle East region

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