ECONOMY

Three importers cut Iran oil shipments to zero

three-importers-cut-iran-oil-shipments-to-zero

Three of eight importers granted waivers by Washington to buy oil from Iran have now cut their shipments to zero, a US official said on Tuesday, adding that improved global oil market conditions would help reduce Iranian crude exports further.

While the US has set a goal of completely halting Iran’s oil exports, it granted temporary import waivers to China, India, Greece, Italy, Taiwan, Japan, Turkey and South Korea to ensure low oil prices and no disruption to the global oil market.

“In November, we granted eight oil waivers to avoid a spike in the price of oil. I can confirm today three of those importers are now at zero,” Brian Hook, the special US envoy for Iran, told reporters.

Hook did not identify the three.

[Reuters]