‘US may issue Iran sanctions waivers’

US Secretary of State Mike Pompeo right meets with Abu Dhabi's Crown Prince Sheikh Mohammed bin Zayed Al Nahyan left at the Al Shati Palace in Abu Dhabi‎ United Arab Emirates

Iran promises to sell as much oil as it can in wake of US sanctions

US Secretary of State Mike Pompeo says the US wants to show Iran its actions have "a real high cost", while on a visit to the United Arab Emirates.

Motahari said his government will close the Strait of Hormuz and will not allow the Gulf States to export their oil if Washington imposes sanctions on Iranian oil importers.

India, Iran's top oil client after China, has asked refiners to look for alternative oil as the nation may have to drastically cut imports from Tehran to comply with the renewed us sanctions.

The secretary of State's comments came as the USA steps up pressure on Iran after President TrumpDonald John TrumpMcConnell to meet with Trump's Supreme Court pick Tuesday Kavanaugh offers lengthy judicial record ahead of bitter confirmation fight Hundreds protest Kavanaugh's nomination outside Supreme Court MORE's announcement in May that he would withdraw from the 2015 nuclear deal with Tehran, which sought to curb Iran's nuclear ambitions in exchange for sanctions relief.

"We are determined to convince the Iranian leadership that this malign behavior won't be rewarded and that the economic situation in the country will not be permitted to be rectified until such time that they become a more normal nation", he said.

"Come November 4th, there will be a U.S. sanction that prevents crude oil from passing from Iran to other countries", said Mr Pompeo in an interview to Sky News Arabia when asked how Washington would deal with the countries that continued to buy oil from Iran after Nov 4. "The zero tolerance policy and the pace with which it is moving no doubt concerns Iran's current crude buyers". Overall purchases climbed on a higher intake of crude from Mexico, the United States and Azerbaijan.

In May 2016, India, Iran, and Afghanistan had signed a pact which entailed the establishment of Transit and Transport Corridor using Chabahar port for sea transportation. The two firms significantly cut their imports from Iran in June.

State refiners, accounting for about 60% of India's almost 5 million bpd of refining capacity, lifted about 10% more Iranian volumes in June compared to May, at about 454,000 bpd, the data showed. Indian state refiners had cut Iranian oil imports in the 2017/18 financial year because of a dispute over the development rights for an Iranian natural gas field. For the first six months of 2018, India's Iranian oil imports increased by 8.4 per cent to 585,000 bpd.

"Today, enemies of the Islamic Iran seek to create dissatisfaction in the society through portraying the system's points of strength as weakness and focusing on economic war while the Islamic system is steadfastly moving on the path of progress", he said.

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