The oil export is Iran’s most important source of income. These want to let the US dry up. As of May 2, five states will face US sanctions if they continue to buy oil in Iran – China and India, for example.
The US government is increasing pressure on Iran: The White House announced that it would no longer allow for derogations from oil sanctions on 2 May. Last November, the US announced punitive measures against states importing Iranian oil, while derogating from eight states.
Italy, Greece, China, India, Japan, South Korea, Taiwan and Turkey should be given time to look for other suppliers. In the meantime Italy, Greece and Taiwan have succeeded in doing so, the other five states have endeavored to extend the exceptions.
„The most important source of income“
US Secretary of State Mike Pompeo emphasized that the goal was to deprive the Iranian leadership of oil revenue and prevent Tehran from providing financial support to terrorist groups and destabilizing the Middle East. „Up to 40 percent of the regime’s revenues come from selling oil,“ he said. „That’s the most important source of income.“
The White House, as well as Pompeo, said the US government had spoken extensively with Saudi Arabia, the United Arab Emirates, and other major oil producers about supplying the oil market with sufficient supplies. The eight states, for which there have been exceptions, would be assisted in switching their oil imports to other suppliers.
Approval from Saudi Arabia, criticism from China
Saudi Arabia said it was committed to stability on the oil market and to closely monitor price developments. The Kingdom will coordinate with other producing countries to provide enough oil, said Energy Minister Chalid al-Falih.
A Chinese Foreign Ministry spokesman emphasized that the People’s Republic rejects US sanctions against Iran. Chinese cooperation with Iran does not violate any laws.
Trump wants another nuclear deal
Trump quit the international nuclear deal with Iran last year and imposed new sanctions. He wants to force the government in Tehran to renegotiate a much stricter agreement. By contrast, the EU wants to stick to the nuclear agreement that was also negotiated by Germany.
