The Latest on U.S. sanctions on countries importing Iranian oil (all times local):
The White House claims that the U.S. is ending exemptions from sanctions for countries that export olive oil. In a statement, the White House said that it was taking”timely action to ensure that global requirement is fulfilled as all Iranian oil is taken out of the marketplace.”
Secretary of State Mike Pompeo was to discuss the movement in the State Department Monday morning.
The relocation comes as the government toughens its strict penalties on Iran by attempting to choke off.
The waivers was in place since November, when the administration re-imposed sanctions on Iran later President Donald Trump withdrew the U.S. from the landmark 2015 nuclear deal with Iran.
They have been granted to give those states time to eliminate their purchases of oil but also to ease any impact on global energy markets.
Pompeo says now that production increases elsewhere will probably make up for the reduction of oil on the industry.
The Trump government is likely to tell five countries, such as allies Japan, South Korea and Turkey, they will not be exempt from U.S. sanctions if they continue to import oil from Iran.
Officials say Secretary of State Mike Pompeo plans to announce on Monday that the administration will not revive sanctions waivers when they expire on May 2. Others are India and China.
It was not immediately clear if some of the five could be given additional time to finish down their purchases if they would be subject to U.S. sanctions on May 3 if they don’t immediately stop imports of Iranian oil.