US not renewing sanctions waivers for importing Iranian oil, working with Saudi Arabia and UAE

President Donald Trump said the US would be ending sanction waivers for countries importing Iranian oil. (AFP/File Photo)
Updated 23 April 2019

US not renewing sanctions waivers for importing Iranian oil, working with Saudi Arabia and UAE

WASHINGTON:  US President Donald Trump moved on Monday to cut Iranian oil exports to zero by ending eight countries’ exemption from US sanctions on buyers of crude from Tehran.

China, India, Japan, South Korea, Taiwan, Turkey, Italy and Greece will now be subject to full US economic penalties if they buy oil from Iran after May 2.

Secretary of State Mike Pompeo said the US wanted to deprive Iran of its lifeline of $50 billion in annual oil revenues by halting all exports. “We are going to zero. We’re going to zero across the board,” he said.

“We’ve made clear — if you don’t abide by this, there will be sanctions. We intend to enforce the sanctions.”

The aim was to pressure Tehran to curtail its nuclear program, halt ballistic missile tests and end its regional meddling in Syria, Yemen and elsewhere. “The Trump administration and our allies are determined to sustain and expand the maximum economic pressure campaign against Iran to end the regime’s destabilizing activity threatening the United States, our partners and allies, and security in the Middle East,” the White House said.

The US said it was working with Saudi Arabia and the UAE to ensure the oil market was “adequately supplied.” Pompeo said he was confident of Riyadh’s commitment to making sure there was sufficient supply in the market, and Trump said Saudi Arabia would “more than make up” for the absence of Iranian oil.

Saudi Energy Minister Khalid Al-Falih said the Kingdom was “monitoring oil market developments” and would coordinate with other producers to ensure a balanced market. Brent crude rose to more than $74 a barrel on Monday, the highest since November.

Saudi Arabia produces about 9.8 million barrels of oil per day but has the capacity for 12 million, so it could increase production to address any market shortfall, Faisal Mrza, a Saudi-based energy and oil marketing adviser, told Arab News.

“As the world energy industry’s only safety valve, Saudi Arabia is the only oil producer that can compensate for the loss of Iranian barrels,” he said. 

“Historically, Saudi Arabia has successfully proven its ability to maintain balance in the global markets, absorbing any supply shock caused by geopolitical or technical factors.”

(With Agencies)

 


Protests in New Delhi against India’s citizenship law ahead of Trump visit

Updated 23 February 2020

Protests in New Delhi against India’s citizenship law ahead of Trump visit

  • Hundreds of people supporting the new law clashed with those opposing it
  • The protest comes just a day before US President Donald Trump begins a two-day visit to India

NEW DELHI: Police used tear gas to disperse large crowds in India’s capital of New Delhi on Sunday in the latest eruption of violence at protests over a new citizenship law, police officials said.
Hundreds of people supporting the new law clashed with those opposing it, with the two groups pelting each other with stones in the Maujpur area in the northeastern part of the city, according to television footage.
“There must be some miscreants who want to spoil the peace in the area. We will identify them and take action against them,” Alok Kumar, a senior Delhi police official, told reporters about the protest.
“The situation is under control now,” he added.
The protest comes just a day before US President Donald Trump begins a two-day visit to India, where he is expected to raise the issue of religious freedom in the country with Prime Minister Narendra Modi.
India’s Citizenship Amendment Act, which eases the path for non-Muslims from neighboring Muslim-majority nations to gain citizenship, has triggered weeks of sometimes violent protests against Modi’s government.
The Indian law is seen by opponents as discriminating against Muslims and has deepened concerns that Modi’s administration is undermining India’s secular traditions.
Modi’s ruling Hindu nationalist Bharatiya Janata Party denies any bias against the country’s 180 million Muslims.
On Sunday, a separate protest also erupted in the northern Indian city of Aligarh, where protesters threw stones at the police, state administration official Chandra Bhushan Singh said.
The Internet in the area had been suspended until midnight, he added.