• Saturday, May 21, 2022

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US Grants Waivers To Major Iranian Crude Oil Importers As Sanctions Against Tehran Starts

Despite this, Iran will continue to sell some crude oil as the United States has granted sanctions waivers to some of its closest allies in Asia (Photo: On the eve of renewed sanctions by Washington, Iranian protesters demonstate outside the former US embassy in the Iranian capital Tehran on November 4. ATTA KENARE/AFP/Getty Images).

By: Radhakrishna N S

The United States re-introduced sanctions against Iranian crude oil exports on Monday (5), although it also gave some of its closest allies exemptions that will allow Tehran’s biggest customers, mostly in Asia, to still buy crude for now. India and China are also seeking waivers from the US’s crude oil sanctions. Washington restored measures lifted under a 2015 nuclear deal negotiated with Tehran by the administration of president Barack Obama, adding as well 300 new designations including Iran’s crude oil, shipping, insurance and banking sectors, aiming to cripple Iran’s main export revenues from the petroleum industry. Despite this, Iran will…

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