US to eliminate Iran oil sanctions waiver for India

The United States is expected to announce later today that all importers of Iranian oil will have to end their imports shortly or be subject to US sanctions. A source confirmed a report by a Washington Post columnist that the administration will terminate the sanctions waivers it had granted to some importers of Iranian oil late last year, including India.

US President Donald Trump has been clear to his national security team over the last few weeks that he wants the waivers to end, and national security adviser John Bolton has been working the issue within the administration.

The US reimposed sanctions in November on exports of Iranian oil after Trump unilaterally pulled out of a 2015 nuclear accord between Iran and six world powers Washington is pressuring Iran to curtail its nuclear program and stop backing militant proxies across the Middle East.

Along with sanctions, Washington has also granted waivers to eight economies that had reduced their purchases of Iranian oil, allowing them to continue buying it without incurring sanctions for six more months. They were China, India, Japan, South Korea, Taiwan, Turkey, Italy and Greece.

Frank Fannon, US Assistant Secretary of State for Energy Resources, repeated the administration’s position last week that “Our goal is to get to zero Iranian exports as quickly as possible.

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