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U.S. Softens its demand that world must stop buying Iranian oil

The Trump administration which actually insisted that the world must stop buying Iranian oil, meaning countries like China, India and Turkey by November 4 is said to soften its earlier stiff demand, according to a top State Department official, reports local media and the official said the United States would allow reduced oil flows in certain cases.

 “We are prepared to work with countries that are reducing their imports on a case-by-case basis,” said Brian Hook, the department’s director of policy and planning.

The announcement implies that oil markets and allies are likely not to be hit by sanctions even if Iranian oil continues to flow around the world..

India, South Korea and Turkey — all allies or friends of the United States — are major importers of oil from Iran and are unlikely to be able to switch suppliers entirely by November.

 

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