US sanctions against Iran oil cut are approaching India, China: we continue to buy

 US sanctions against Iran oil cut are approaching India, China: we continue to buy

Irans two biggest customers, India and China, are boycotting Washingtons demand to cut their oil purchases to zero, saying there is not enough global supply, with only a few days to go before the U.S. imposes sanctions on Irans oil industry on November 5, the German news agency reported on its website on October 30. To replace oil imports from Iran.

Reported that Washington restarted sanctions against Iran after the United States withdrew from the 2015 nuclear agreement signed by Iran and the worlds major powers. Washington has threatened to ban foreign companies from doing business in the U.S. market if they violate sanctions from other countries.

_On October 31, 2018, Iranian President Rouhani spoke at a cabinet meeting in Tehran about U.S. sanctions against Iranian oil. (visual China)

Irans vice president, Eshag Jahangiri, said Oct. 28 that he did not think Irans oil exports would fall below 1 million barrels a day, although that still meant a sharp drop from the peak. Before the US resumption of sanctions in April, Irans crude oil exports reached the highest level of 2 million 500 thousand barrels per day.

Chinas Foreign Ministry spokesman Hua Chunying said at a regular press conference last week that the core of the issue is whether the comprehensive agreement on the Iranian nuclear issue will continue to be implemented or not. She said that Chinas position has been very clear in this regard.

Hua Chunying said that China has always opposed unilateral sanctions and long arm jurisdiction. Normal cooperation between China and Iran under the framework of international law is reasonable, reasonable and lawful and should be respected and safeguarded.

But New Delhi has also been trying to placate Washington, which recently restricted Iranian oil imports and sought exemptions from sanctions in an attempt to continue importing some Iranian oil.

Because India imports 80% of its oil demand, it is in a weak position.

Photo: May 28, 2018, Iran foreign minister Zarif held talks with foreign minister of India, Swaraj. (Reuters)

An Indian government official told Reuters that New Delhi has told Washington that high and rising oil prices will make it impossible to stop buying oil from Iran soon.

We cant stop importing oil from Iran at a time when other countriesoil prices are high, Reuters quoted the unidentified source as saying.

According to Reuters, an unnamed U.S. diplomat confirmed that the United States is in negotiations with New Delhi, saying Washington may grant India and other countries limited exemptions from sanctions.

According to official figures, India normally imports more than 500,000 barrels of Iranian oil a day, but has cut its imports in recent months.

Turkey, the fourth largest buyer of Iranian crude oil, is also prepared to defy U.S. sanctions, and Turkish President Recep Tayyip Erdogan has publicly criticized U.S. sanctions against Iran, Reuters reported.

Turkey has cut its Iranian oil imports by half and is likely to cut further to zero, but is more willing to continue buying some Iranian oil, Reuters reported.

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