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US to end all waivers on imports of Iranian oil, crude price jumps

Updated : April 23, 2019 06:54 AM IST

The Trump administration on Monday said it will not renew exemptions granted last year to buyers of Iranian oil, a more stringent than the expected decision that caught several key importers who have been pleading with Washington to continue buying Iranian oil sanctions-free.
Iran's oil exports have dropped to about 1 million barrels per day (bpd) from more than 2.5 million bpd prior to the re-imposition of sanctions. US Secretary of State Mike Pompeo, in a briefing Monday, said "we're going to zero across the board," said the United States had no plans for a grace period for compliance beyond May 1.
In India, refiners have started a search for alternative supplies but the government declined to comment officially.
US to end all waivers on imports of Iranian oil, crude price jumps

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