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

Strait of Hormuz Shipping Marks Slight Rise

Iran-Oman Talks on Hormuz Reopening Drive Down Oil Prices

Iran Tightens Enforcement of Strait of Hormuz Transit Rules

Oil Rises as Uncertainty Clouds US-Iran Peace Talks

Energean Lifts Karish Fields FPSO Oil Processing Capacity

ADNOC Approves $6.2B Offshore Umm Shaif Gas Project

Hormuz Crossings Decline as US Renews Iran Blockade

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

ADNOC, XRG and Mitsui Broaden Energy Cooperation

Ruwais LNG Commitments Top 90% Capacity with New INPEX Deal

Current News

PTTEP, Petronas Ink 35-Year Malaysia-Thailand Gas Deals

Iran Outlines Terms for Restoring Hormuz Shipping

Technip Energies Nets Engineering Services Job for ADNOC Offshore

Seatrium Nears Dual FPSO Sailaway for Petrobras' Búzios Field

Strait of Hormuz Shipping Marks Slight Rise

China's CNOOC Posts Record First-Half Profit

BP Completes Central Azeri Platform Maintenance, Ramps Up Production

Iran-Oman Talks on Hormuz Reopening Drive Down Oil Prices

Viridien Progresses Hybrid Multi-Client Survey Offshore Malaysia

TGS Extends Work on Indonesia’s Largest Seismic Acquisition Project

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