Iran oil buyers not fully comply with American policies; Barkeshli told ILNA
"China, India, South Korea, Japan and even Turkey are aware of their long term interests and they do not fully comply with the American policies," the president of Vienna Energy Research Group said to ILNA.
Fereydoun Barkeshli, an Iranian energy analyst and the president of Vienna Energy Research Group, elaborated on the effects of the United States’ decision ends sanctions waivers for buyers of Iranian crude in May and said that Iranian oil customers don't limit their interests to American strategic goals.
The Trump administration last week said it will not renew exemptions granted last year to buyers of Iranian oil, a more stringent than expected decision that caught several key importers who have been pleading with Washington to continue buying Iranian oil sanctions-free.
Barkeshl confirmed that American officials said this decision was made to impose maximum pressure on the Islamic Republic of Iran. But it has to be said that the American decision is so hurried and hasty that virtually none of the market's players are ready for such an action.
"However, the U.S. could not find the time worse than now to impose sanctions on Iran's oil exports because the conditions in Venezuela, Libya, Sudan and Algeria are important threats to the market," president of Vienna Energy Research Group added.
He believes that President Trump has not made any of his pre-election promises and now he wants to present a show of power.
He pointed to the policy adopted by India in reducing oil purchase from the Islamic Republic of Iran, he said, “India’s oil import slump is not a political matter.”
"Major producers and exporters eye Asian market vehemently," he stressed.
The Trump administration said it will not renew exemptions granted last year to buyers of Iranian oil, a more stringent than expected decision that caught several key importers who have been pleading with Washington to continue buying Iranian oil sanctions-free.
Most Asian buyers are avoiding imports for next month as it’s unclear what will happen to the exemptions that are set to expire in the first week of May, according to people with knowledge of the matter. Even if the waivers are extended, it would be too late to order and receive cargoes for the month, said the people who asked not to be identified as the information is private.
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