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The knowns and unknowns of US Iran oil sanction waivers

Updated : November 08, 2018 14:19:22 IST

Washington had been pushing governments to cut imports of Iranian oil to zero. But, fearing a price spike, it granted Iran's biggest buyers - China, India, South Korea, Japan, Italy, Greece, Taiwan and Turkey - sanctions waivers.
Analysts have estimated the overall volumes allowed under the waivers at between 700,000 and 1.7 million barrels per day (bpd) compared with a peak of around 3 million bpd in Iranian crude and condensate exports in mid-2018.
One Indian source close to the country's refining sector said India would likely be allowed to import around 300,000 bpd of Iranian crude during the exemption period compared with normal volumes of around 450,000 to 550,000 bpd.
The knowns and unknowns of US Iran oil sanction waivers
Published : November 08, 2018 02:19 PM IST

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