Will the US-imposed sanctions against Iran affect oil importing economies?
Washington recently decided to end sanctions waivers, which permitted several major economies, including Turkey, to buy crude oil from Iran, escalating fears across the world markets that the move could destabilise energy prices.
“We’re going to zero—going to zero across the board,” said US Secretary of State Mike Pompeo confidently during the announcement on April 22. “The US decision to end sanctions waivers on Iran oil imports will not serve regional peace and stability, yet will harm Iranian people. Turkey rejects unilateral sanctions and impositions on how to conduct relations with neighbors,” said Mevlut Cavusoglu, Turkey’s Foreign Minister,Turkish Foreign Minister Mevlut Cavusoglu meets with his Iranian counterpart Mohammad Javad Zarif in Ankara, Turkey on April 17, 2019.
Besides causing a major friction, Washington’s decision could affect the Turkish energy market at a time when the country has been battling high inflation and rising unemployment.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China slams US on Iran oil sanctions, Saudi Arabia welcomes US moveBeijing said Washington's decision to impose sanctions on buyers of Iranian oil will 'intensify turmoil' in the Middle East. The US said on Monday it will penalise any imports of Iranian oil from May 2.
Read more »
Iran can export as much oil as it needs: Iran Supreme LeaderIran can export as much oil as it needs, Iran's Supreme Leader Ayatollah Al...
Read more »
Goldman Sachs is not expecting oil to rally despite the US tightening sanctions on IranGoldman Sachs expects the United States' decision to end exemptions from sanctions for countries still buying oil from Iran to have a limited impact on crude prices.
Read more »
China complains to U.S. over end to Iran oil sanction waiversChina's Foreign Ministry said on Tuesday it has formally complained to the ...
Read more »
Japan sees limited impact from U.S. decision on Iran sanctions: ministerJapan expects a limited impact from a U.S. decision to force buyers of Iranian c...
Read more »
Oil prices climb as U.S. set to end Iran sanction waiversOil prices jumped on Monday as the United States looked set to announce that all...
Read more »
China lodges representations with U.S. over end to Iran sanction waiversChina's Foreign Ministry said on Tuesday it has lodged representations with...
Read more »
Exclusive: Dispute flares among U.S. officials over Trump administration Iran arms control reportExclusive: U.S. officials clash over a White House report on arms control, with some wondering if the Trump administration was painting Iran in the darkest light possible
Read more »
Oil prices hover near 2019 highs after U.S. ends all Iran sanction waiversOil prices hovered near 2019 peaks in early trading on Tuesday after Washington ...
Read more »
US ends waivers for Iran oil sanctions, tightening economic pressure on regimeU.S. will no longer grant waivers to countries to purchase Iranian oil, fully implementing the sanctions that Pres. Trump reimposed nearly a year ago when he withdrew from the Iran nuclear deal.
Read more »
Oil prices jump more than 2 percent as U.S. set to end Iran import sanction waiversOil prices rallied by more than 2 percent on Monday to levels not seen since Nov...
Read more »