As US sanctions designed to push Irans oil exports to zero came into effect on Tuesday, the hardline initially signaled by President Donald Trump softened as the deadline approached.
Countries that have already cut their purchases to zero are now being granted waivers to buy Iranian oil. In fact, Irans oil exports may go up and not down this month, according to RTs Boom Bust.
“These were billed as the strongest sanctions in history intended to prevent Iran from exporting any oil at all, but the reality hasnt quite lived up to its hype,” RT producer Sayeh Tavangar says.
Washington has agreed to let eight countries keep buying Iranian oil. Among those are the biggest buyers of Irans oil, China and India, as well as other key US allies – Japan, South Korea, Turkey, Italy, Greece, and Taiwan. Tavangar explains that Trumps selective waivers are likely to have the contrary impact.
“Although Iran will only have restricted access to the money generated from the sales, an increase in Irans oil exports in the first month of sanctions isnt exactly the outcome Trump will have been hoping for,” she says.
For more stories on economy & finance visit RT's business section
[contf]
[contfnew]
RT
[contfnewc]
[contfnewc]
