India and South Korea Win Waivers From Iranian Oil Sanctions, but the Pressure's Still On
Nov 1, 2018 | 21:52 GMT
(ATTA KENARE/AFP/Getty Images)
- The United States will find it necessary to grant a limited number of waivers to sanctions it will impose on Iranian oil customers, but in exchange, it will demand that the countries substantially cut those imports.
- The United States will continue to pursue its goal of reducing Iran's oil exports to zero, and it will demand further reductions when the six-month waivers expire in order to renew them.
- Even the Iranian customers who gain waivers will find it difficult to set up mechanisms to pay for the oil or to arrange shipping and insurance to transport it.
- India, South Korea, Japan and Turkey are the countries most likely to receive waivers, while others, including China, will continue to try to secure them.