Washington
\nThere is a sufficient supply of petroleum and petroleum products for countries to \u201csignificantly\u201d reduce their purchase of crude oil from Iran, US President Donald Trump has said as the November 4 deadline approached for nations like India to cut their oil imports to zero from the Islamic Republic before the imposition of major sanctions on it.<\/p>\n
The US is trying to cut off all oil imports from Iran to zero by November 4 following Trump\u2019s decision in May to pull out of the 2015 multilateral deal that eased global sanctions in exchange for curbs on Iran\u2019s suspected nuclear programmes and malign activities.<\/p>\n
India is resisting Washington\u2019s call to reduce purchases to zero, citing the galloping energy needs of its 1.3 billion people. But at the same time, India has taken steps to reduce its oil purchase from Iran, which has already declined substantially.<\/p>\n
In his presidential determination, Trump said \u201cthere is a sufficient supply of petroleum and petroleum products from countries other than Iran to permit a significant reduction in the volume of petroleum and petroleum products purchased from Iran by or through foreign financial institutions.\u201d<\/p>\n
India, the world\u2019s third-biggest oil consumer, meets more than 80 per cent of its oil needs through imports. Iran is its third-largest supplier after Iraq and Saudi Arabia and meets about 10 per cent of India\u2019s total needs.<\/p>\n
Trump\u2019s presidential determination, not an executive order but a kind of directive issued by the White House to the members of his administration on some policy matters, comes less than 100 hours before the November 4 deadline.<\/p>\n
In an attempt to compel Iran to agree to a new accord, Trump reinstated sanctions that targeted the Iranian government\u2019s purchase of US dollars, Iran\u2019s trade in gold and other precious metals, and its automotive sector.<\/p>\n
On November 4, a second batch of potentially more crippling sanctions will be re-imposed on Iran\u2019s oil and shipping sectors as well as its central bank.<\/p>\n
Recently, senior US officials were in India for talks on the issue. However, US officials are tight-lipped on the issue.<\/p>\n
The White House also did not immediately responded to a question if India\u2019s oil purchase reductions from Iran would be considered significant. Trump said he will continue to monitor the situation.<\/p>\n
Secretary of State Mike Pompeo on Wednesday said on the Laura Ingraham Show hat on November 5, the US will put back in place sanctions that will be very severe on the leadership of Iran. He hoped that this will convince them to change their ways.<\/p>\n
Pompeo, on the another show, said that Iran was the world\u2019s largest state sponsor of terror. \u201cThey were squandering the people\u2019s money, the Iranian people\u2019s money, on these silly malign activities. And our effort is to get them to change that behaviour\u201d.<\/p>\n
State Department Deputy Spokesperson Robert Paladino told reporters that on November 5, at 12:01, sanctions that were lifted under the Iran nuclear deal will come back into full effect.<\/p>\n
\u201cThe sanctions that are reimposed on November 5th will target critical sectors of Iran\u2019s economy, such as energy, shipping and the ship-building sectors, as well as the provision of insurance and transactions involving the Central Bank of Iran and designated Iranian financial institutions,\u201d Paladino said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Washington There is a sufficient supply of petroleum and petroleum products for countries to \u201csignificantly\u201d reduce their purchase of crude oil from Iran, US President Donald Trump has said as the November 4 deadline approached for nations like India to cut their oil imports to zero from the Islamic Republic before the imposition of major […]<\/p>\n","protected":false},"author":1,"featured_media":45991,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[87],"tags":[],"class_list":["post-45990","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/45990","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=45990"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/45990\/revisions"}],"predecessor-version":[{"id":45992,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/45990\/revisions\/45992"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/45991"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=45990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=45990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=45990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}