Tuesday , 20 November 2018

U.S. Envoy Aims To End Iran Oil Exports Without Price Spike

Radiofarda – The United States is determined to push Iranian oil exports to zero, U.S. Special Representative Brian Hook said on Wednesday, through a ‘calibrated’ approach using maximum economic pressure without lifting oil prices.

The United States resumed sanctions on Iran’s oil, shipping and banking industries on Monday after President Donald Trump pulled out of a 2015 nuclear deal earlier this year. It granted temporary exemptions to eight countries allowing them to continue importing Iranian oil, although it said the ultimate goal is to completely halt exports from Iran.

Hook declined to give details of the confidential bilateral deals with the countries, which include China, India, South Korea, Taiwan, Japan, Greece, Italy and Turkey.

The deputy head of Iran’s elite Revolutionary Guards, Brigadier General Hossein Salami, said on Wednesday that his country can flourish under sanctions and would defeat the United States in the economic war.

“We have been very careful about applying maximum economic pressure (on Iran) without lifting the price of oil and we have done that successfully,” Hook told reporters.

“We are going to be continuing our path to zero,” Hook said. “We do want to achieve maximum pressure without harming friends or allies and we don’t want to lift the price of oil. … We have calibrated this very well.”