Amid Tensions, Iran's Crude Buyers Jump Ship

(Wall Street Journal) Benoit Faucon - One month after the Trump administration said it would tighten its ban on Iran's oil sales, the country's direct crude buyers have all but vanished, traders and executives in the Islamic Republic say. Secretary of State Mike Pompeo announced in late April the end of exemptions to eight countries that had been allowed to buy crude despite a U.S. ban on Iran's exports. Since then, China, India, Turkey, South Korea and Japan have ended all direct purchases of Iranian crude and condensates, they said. Three others - Taiwan, Greece and Italy - had been unable to use the waiver due to banking and insurance issues.

2019-05-28 00:00:00

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