This will be done by requiring importing countries to reduce purchases to avoid US sanctions, sources say.
The United States aims to cut Iran's crude exports by about 20 percent to below one million barrels per day from May by requiring importing countries to reduce purchases to avoid US sanctions, two sources familiar with the matter toldUS President Donald Trump eventually aims to halt Iranian oil exports and thereby choke off Teheran's main source of revenue. Washington is pressuring Iran to curtail its nuclear programme and stop backing militant proxies across the Middle East.
Washington may also deny waivers to some countries that have not bought Iranian crude recently, the sources said. "Zeroing out could prove difficult," one of the sources said, adding a price of around US$65 a barrel for international benchmark Brent crude was"the high end of Trump's crude price comfort zone."Both sources said they were briefed by the Trump administration on the matter but were not authorised to speak publicly about it and asked for anonymity.
Trump"has made it very clear that we need to have a campaign of maximum economic pressure" on Iran, Hook said,"but he also doesn't want to shock oil markets." Greece and Italy were not buying any Iranian oil, Iran's Oil Minister Bijan Zanganeh was quoted as saying in February.
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