The US allows eight importers to continuously buy Iranian oil

WASHINGTON (Reuters) – The United States said on Friday that it would temporarily allow eight importers to continue purchasing Iranian oil when it re-imposed sanctions on Monday to try to force Iran to curb its nuclear, missile and regional activities.

US Secretary of State Mike Pompeo, who announced the decision, did not name the eight as "jurisdictions", a term that includes importers like Taiwan, which the United States does not consider the country.

US President Donald Trump left the Iranian nuclear agreement in 2015 and is trying to regret Iran's oil-dependent economy and force Tehran to cease not only its nuclear ambitions and a ballistic missile program, but to support Syrian, Yemeni, Lebanese and other Middle East -Eastern parts.

On Twitter, in a message aimed at emphasizing the "maximum pressure" policy against Iran, Trump included a photo modeled with a poster in the entertainment industry: "Sanctions will arrive on November 5th."

China, India, South Korea, Turkey, Italy, the United Arab Emirates and Japan are major importers of Iranian oil, while Taiwan sometimes purchases Iranian crude oil but is not a major buyer.

Turkey was told to be temporarily licensed to buy Iranian oil, its minister for energy to reporters, as well as Iraq, as long as he did not pay for the US dollar, three Iraqi officials said.

India and South Korea are also on the list, a source who knows the case who spoke under anonymity conditions said. Exceptions can be granted under US law for up to 180 days.

India's Oil Minister, Dharmendra Pradhan, on Saturday said that India and other leading oil buyers benefit from the American freedom they have given.

"In the current geopolitical scenario, India has succeeded in convincing international leaders," Pradhan told reporters in New Delhi.

Oil prices fell Friday on a weekly loss of more than 6 per cent since investors were concerned about the overcrowding after the US resigned.

Brent's futures fell by 6 cents to $ 72.83, while US raw materials fell by 55 cents, resulting in a $ 63.14 exchange rate loss of $ 0.86 per share.

US Treasury Secretary Steven Mnuchin also said Washington told the Brussels-based SWIFT financial messaging service and is expected of any Iranian financial institution that the United States plans to blacklist on Monday. He refused the names of the targeted institutions.

Trump began the reopening of sanctions on May 8, when it announced that it would withdraw the Iranian and World Pact's 2015 agreement during which Tehran agreed to reduce its nuclear program to mitigate sanctions.

"This part of the campaign is aimed at depriving the system of death and destruction revenues in the world," said Pompeo.

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According to Pompeo, Washington releases temporary resignations to the eight Iranian oil importers "just because they have proven a significant reduction in their crude oil and cooperation in many other areas".

Two stop importing, and the other six will greatly reduce them, Pompeo said.

Later, he said that the ultimate goal was to stop all Iranian crude exports.

"Finally, we would place it on zero crude oil, which would take a couple of months," Pompeo told Fox News in an interview with the Ministry of Foreign Affairs. "We were able to do this in a way that did not affect oil prices. That's good for American consumers."

Iran has said it is not concerned about the reintroduction of US sanctions that cover not only the oil and gas sectors but also the shipping, shipbuilding and banking sectors.

"America will not be able to take any action against our great and brave nation … Know and we are able to steer the economic affairs of the country," said Bahram Qasemi, spokesman for Iran's Foreign Ministry on state television.

But ordinary Iranians are worried that even more painful pressures will be imposed on businesses who buy raw materials for patients and the elderly who are unable to save life-saving medicines.

"I can not buy rice to feed my kids or pay my rent," said Pejman Sarafnejad, 43, the three sons of Tehran.

The European Union, France, Germany and Britain, the nuclear convention, who are trying to survive, said he was sorry for Washington's decision to re-issue sanctions. The EU establishes a special mechanism to circumvent United States financial sanctions against Iran.

The United States is able to put pressure on other nations not to end the purchase of Iranian oil under a 2012 law allowing the president to cut off foreign banks, including central banks, from the US financial system, with the exception of , if you reduce your purchase considerably.

The United States believes that global oil production will exceed demand over the next year, making it easier for countries to reduce Iran's oil imports to zero, said Brian Hook, Special Representative for the United States of America.