Why Trump Decided To Back Down On Iran

oilprice

The Trump administration has finally faced up to what many knew all along: It won’t be able to take Iran’s oil exports down to zero.

The U.S. is set to grant waivers to eight countries, allowing them to continue to import some level of oil from Iran, on the condition that they ratchet down their purchases in the months ahead. The full list of the countries will be released on Monday, but they will surely include China, India, South Korea and Japan, which are four of Iran’s top buyers. “The reported awarding of waivers by the US for up to eight countries to continue buying Iranian oil, on the basis that they reduce volumes, shows that in the short term at least the Trump administration has set aside the goal of trying to cut Iran’s oil exports to zero,” Peter Kiernan, lead analyst of energy at the Economist Intelligence, said in a statement…

Read more : Oilprice, 04.11.2018