AGL 39.55 Decreased By ▼ -0.45 (-1.13%)
AIRLINK 128.20 Decreased By ▼ -0.86 (-0.67%)
BOP 6.85 Increased By ▲ 0.10 (1.48%)
CNERGY 4.72 Increased By ▲ 0.23 (5.12%)
DCL 8.42 Decreased By ▼ -0.13 (-1.52%)
DFML 41.00 Increased By ▲ 0.18 (0.44%)
DGKC 82.00 Increased By ▲ 1.04 (1.28%)
FCCL 33.00 Increased By ▲ 0.23 (0.7%)
FFBL 74.00 Decreased By ▼ -0.43 (-0.58%)
FFL 11.88 Increased By ▲ 0.14 (1.19%)
HUBC 110.80 Increased By ▲ 1.22 (1.11%)
HUMNL 14.12 Increased By ▲ 0.37 (2.69%)
KEL 5.23 Decreased By ▼ -0.08 (-1.51%)
KOSM 7.50 Decreased By ▼ -0.22 (-2.85%)
MLCF 39.20 Increased By ▲ 0.60 (1.55%)
NBP 63.89 Increased By ▲ 0.38 (0.6%)
OGDC 193.01 Decreased By ▼ -1.68 (-0.86%)
PAEL 25.61 Decreased By ▼ -0.10 (-0.39%)
PIBTL 7.30 Decreased By ▼ -0.09 (-1.22%)
PPL 153.45 Decreased By ▼ -2.00 (-1.29%)
PRL 25.87 Increased By ▲ 0.08 (0.31%)
PTC 17.51 Increased By ▲ 0.01 (0.06%)
SEARL 81.00 Increased By ▲ 2.35 (2.99%)
TELE 7.66 Decreased By ▼ -0.20 (-2.54%)
TOMCL 33.44 Decreased By ▼ -0.29 (-0.86%)
TPLP 8.44 Increased By ▲ 0.04 (0.48%)
TREET 16.42 Increased By ▲ 0.15 (0.92%)
TRG 56.90 Decreased By ▼ -1.32 (-2.27%)
UNITY 27.55 Increased By ▲ 0.06 (0.22%)
WTL 1.38 Decreased By ▼ -0.01 (-0.72%)
BR100 10,507 Increased By 62.3 (0.6%)
BR30 31,110 Decreased By -79.8 (-0.26%)
KSE100 98,291 Increased By 493.2 (0.5%)
KSE30 30,674 Increased By 193.5 (0.63%)

Washington will consider waivers for Iranian oil buyers such as India but they must eventually halt imports as sanctions are imposed on Tehran, US Secretary of State Mike Pompeo said on Thursday.
Pompeo, who is in Delhi with US Defense Secretary Jim Mattis for talks with their Indian counterparts, told reporters some buyers of Iranian oil would take a "a litle bit of time" to unwind their trade with Iran. The United States is pushing all countries to halt oil imports from Iran after President Donald Trump in May withdrew from a 2015 deal between Iran and six world powers and ordered a re-imposition of sanctions on the Islamic Republic.
Some sanctions came in effect on August 6 and the rest, notably in the petroleum sector, will take hold on November 4. Trump has warned that anyone trading with Iran would not do business with the United States.
"We will consider waivers where appropriate but that it is our expectation that the purchases of Iranian crude oil will go to zero from every country or sanctions will be imposed. So we''ll work with the Indians, we committed that we will do that," Pompeo said.
Despite Trump''s efforts, government officials in India, the world''s third-biggest oil importer and Iran''s top oil client after China, say that it would be difficult to fully halt supplies from Tehran.
"Many countries are in a place where it takes a little bit of time to unwind and we''ll work with them I''m sure to find an outcome that makes sense," Pompeo said, adding that the United States would be ''happy'' if Iranian oil is replaced with American products.
Nevertheless, India''s August oil imports from Iran plunged by a third as the state refiners waited for government permission to buy oil using Iranian tankers and cover.
In a sign of New Delhi''s desire to keep buying Iranian oil, Reuters reported this week that India had allowed its state refiners to use Tehran''s tanker and insurance cover after western and Indian shippers started winding down their Iran operations ahead of the November 4 deadline.
To lure Indian buyers and protect is oil revenue, Iran has been offering extended credit terms and almost free shipping.
"But our mission set is to ensure that Iran doesn''t engage in malign behavior with wealth that comes from countries around the world. Thus the purpose of the sanctions," Pompeo said.

Copyright Reuters, 2018

Comments

Comments are closed.