• Italy to keep buying Iranian oil despite sanctions

Italian press reported on Saturday that Rome will continue to buy oil from Iran despite US sanctions.

Iran Press/ Europe: According to the reports, eight countries including Italy are allowed to keep buying oil from Iran, despite the secondary sanctions of the US against Iran, Iran Press news agency reported.

The US secretary of state "Mike Pompeo" and US Treasury Secretary "Steven Mnuchin" said on Friday that eight countries would be exempted from the secondary sanctions.

According to reports, Italy is the only European country in that list.

It seems that the US has found that it is not able to cut the Iranian oil's export totally, so Washington considered an exemption for some Iranian oil customers.

Related News:

US unable to cut-off Iran's oil exports: Head of Central Bank

However, US emphasis on Iran's sanctions, has turned out to be a major source of concern within the international community.

In Oct. 31, India's Oil Minister Dharmendra Pradhan announced that he will sign an agreement with Iran on the revival of the trade mechanism in Rupee.

Related News:

India will continue purchasing Iranian oil

India is the second biggest purchaser of Iranian crude and Indian refiners imported around 10 million barrels of Iranian crude in October.

Beijing and New Delhi have thus far been defiant to Washington's call to stop buying Iranian oil, saying they abide only by sanctions imposed by the United Nations and not those imposed by any other country. 

According to a report by the International Atomic Energy Agency, the oil market has entered a short period of relaxation, but implementing Iran's sanctions at the end of 2018, will shatter this calm.

207/104

Read More:

India buys Iran's oil for November supply

Iran’s oil minister: "Saudi Arabia is violating an OPEC agreement under US pressure"

Iran's oil buyers may have chance for US sanction waivers: US Treasury

OPEC struggles to deliver pledged oil output boost

Tags

Nov 03, 2018 15:35 Asia/Tehran
Comments