Monday, 24 September, 2018

Iran announces plan to circumvent U.S. oil sanctions

Scott Davis | 03 July, 2018, 02:11

Since President Donald Trump withdrew the USA from the Iran deal, his administration has been pushing for allies to stop importing Iranian oil before sanctions snap back into place in November.

Iran has said it will fight back against U.S. efforts to squeeze Iranian oil exports, accusing countries that fill the gap in oil markets of "a big treachery to the Iranian nation and the world community", according to Iran's First Vice President Eshagh Jahangiri.

"Our attempt is to defeat USA policies in the sale of oil and we are pretty sure we will sell our oil as much as we need", he added.

The Trump administration is asking its global partners for a full halt to oil imports from Iran by November 4, and is hoping to reduce Tehran's crude oil sales to zero while minimising disruption to the market.

His remarks came in the light of his controversial decision earlier this year to pull America out of the Iran nuclear deal and reimpose sanctions - a move strongly opposed by Europe.

Some key countries are reliant on Iranian oil imports, including India and Turkey. One-hundred and eighty days later, on November 4, sanctions will snap back on Iran's energy sector, all oil-related transactions, and transactions with the Central Bank of Iran.




Hook's comments follow a turbulent week in the oil market that started last Tuesday when another State Department official called on buyers to stop importing Iranian crude by November 4.

Rising gasoline prices could create a political headache for Trump ahead of the November elections by offsetting Republican claims that his tax cuts and rollbacks of federal regulations have helped boost the economy.

U.S. President Donald Trump tweeted on Saturday that Saudi Arabia's King Salman bin Abdulaziz Al Saud had agreed to pump more oil, "maybe up to 2,000,000 barrels".

"We have been clear with countries and companies around the world that we are bringing severe economic pressure on Iran until the regime changes its destabilizing policies", Hook said.

The State Department has not released the itinerary of the visit but the delegation is expected to make stops in Riyadh and Abu Dhabi before heading to Europe in a bid to to prepare the groundwork with Gulf and transatlantic allies for reimposing sanctions on Iran.

"We are working to minimize disruptions to the global market but we are confident there is sufficient global spare oil capacity". The official spoke on the condition of anonymity under State Department ground rules.

Recommended

Capital Gazette Journalist to be Remembered, Paper Gets Threats Capital Gazette Journalist to be Remembered, Paper Gets Threats It reveals a fundamental failure to understand what defamation law is and more particularly, what defamation law is not. But Twitter , Ramos' apparent platform of choice, has always been dogged by rampant abuse problems.

Molinari claims first PGA Tour title in runaway as Woods fourth Molinari claims first PGA Tour title in runaway as Woods fourth The Italian closed with an 8-under 62 for an eight-shot victory, matching the largest margin this year on the PGA Tour. Lahiri, who had a fine three-under 67 on first day, needed pars on his last three holes to survive and make the cut.

Cavani fires Uruguay into last 8, Latest Football News Cavani fires Uruguay into last 8, Latest Football News Despite topping its group undefeated, coach Oscar Tabarez's team did little to raise expectations in the tournament's open stages. Ronaldo won Euro 2016 with Portugal and has proven himself to be his country's greatest ever player.

Trump Thinks Democrats 'Never Win Another Election' With Open Borders Trump Thinks Democrats 'Never Win Another Election' With Open Borders The groups said their goal is to have ICE abolished and get lawmakers to stop "caging migrants" in detention facilities. This comes in response to far-left attacks and mass protests against immigration enforcement.

Belgium boss Roberto Martinez aware of Japan threat Belgium boss Roberto Martinez aware of Japan threat Belgium face Japan on Sunday with a spot in the World Cup quarter-finals on the line (22:00 UAE kick-off time). De Bruyne advanced the ball with a handsome push, making a ideal lead pass to Jan Vertonghen with room to run.

Jordan, Mavs agree to one-year deal Jordan, Mavs agree to one-year deal Seven years later, the Mavericks made a strong play for Jordan, who agreed to sign with them as a free agent. Jordan averaged 12 points and a career-high 15.2 rebounds a game this season, his 10th for the Clippers.

11 members of a family found dead in Burari 11 members of a family found dead in Burari The family ran a grocery shop and plywood business out of their double-storey home in Sant Nagar, in north Delhi's Burari's area. The police investigation is underway and officers are scanning the CCTV footage to find the reason of the crime.

Oklahoma City Thunder: 2017-18 player grades for Jerami Grant Oklahoma City Thunder: 2017-18 player grades for Jerami Grant George declined his player option last week to become an unrestricted free agent, but didn't take long to make a decision. Shelburne reports that George potentially staying with the Thunder has thrown a wrench into Los Angeles' plans.

Philadelphia 76ers: 3 questions surrounding reported offer for Kawhi Leonard Philadelphia 76ers: 3 questions surrounding reported offer for Kawhi Leonard Whether or not they play out is one thing, but to say players don't at least engage each other on the subject is another. The Los Angeles Lakers will be an attractive destination for players if they can sign LeBron James .

Mascherano quits after Argentina lose to France Mascherano quits after Argentina lose to France Ronaldo's World Cup exit is down in large part to the talents of Uruguayan strike duo Luis Suarez and Edison Cavani - the latter of whom scored a stunning double in Sochi.

Trump's Supreme Court search begins, with youth a key factor Trump's Supreme Court search begins, with youth a key factor Leonard Leo, an outside legal activist, will be another key member of the president's advisory team, sources said. Many liberals fear that with Kennedy gone, a Trump replacement will ensure that eventually Roe v.

Portugal Are Out The World Cup After 2-1 Loss To Uruguay Portugal Are Out The World Cup After 2-1 Loss To Uruguay Uruguay , meanwhile, had not conceded a goal in 2018 - an impressive run of six games, three of them at Russian Federation 2018. The quarter-final match between Uruguay and Portugal will take place in Sochi on Sunday (4am AEST).

Joachim Low criticizes Ozil after Germany exit Joachim Low criticizes Ozil after Germany exit Germany players and officials are on their way home after their shock exit at the Russian Federation 2018 World Cup . The latest odds and betting lines have Brazil and Spain as the heavy favorites.

In farewell to U.S. shoppers, Toys 'R' Us urges 'Play on!' In farewell to U.S.  shoppers, Toys 'R' Us urges 'Play on!' The toy store chain announced in March they would be closing down and the few remaining stores are closing for good this week. Toys R Us , which also owned Babies R Us, collapsed in February after they were unable to pay a £15million tax bill.

Trump, at Rally, Vows to Carry On Anthony Kennedy's Legacy Trump, at Rally, Vows to Carry On Anthony Kennedy's Legacy Maxine Waters of California, who recently encouraged Democrats to accost members of the Trump administration. Trump also invited her to join him on stage with Cramer during a past appearance in North Dakota.