U.S. will not reissue waivers for Iran oil imports -White House
U.S. President Donald Trump has decided not to reissue waivers in May allowing importers to buy Iranian oil without facing U.S. sanctions, the White House said in a statement on Monday.
The United States, Saudi Arabia and the United Arab Emirates “have agreed to take timely action to assure that global demand is met as all Iranian oil is removed from the market,” the White House said.
White House economic adviser Kevin Hassett said on Monday that he believed global oil markets would be able to handle an expected U.S. decision to force buyers of Iranian oil to either end imports or face sanctions, despite Monday’s surge in oil prices.
“I think that the global oil markets are poised to be able to deal with this,” Kevin Hassett said in an interview with CNBC.
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