AGL 40.10 Increased By ▲ 0.10 (0.25%)
AIRLINK 131.35 Increased By ▲ 1.82 (1.41%)
BOP 6.85 Increased By ▲ 0.17 (2.54%)
CNERGY 4.62 Decreased By ▼ -0.01 (-0.22%)
DCL 9.08 Increased By ▲ 0.14 (1.57%)
DFML 43.83 Increased By ▲ 2.14 (5.13%)
DGKC 84.18 Increased By ▲ 0.41 (0.49%)
FCCL 33.05 Increased By ▲ 0.28 (0.85%)
FFBL 77.50 Increased By ▲ 2.03 (2.69%)
FFL 11.47 No Change ▼ 0.00 (0%)
HUBC 110.50 Decreased By ▼ -0.05 (-0.05%)
HUMNL 14.80 Increased By ▲ 0.24 (1.65%)
KEL 5.40 Increased By ▲ 0.01 (0.19%)
KOSM 8.29 Decreased By ▼ -0.11 (-1.31%)
MLCF 39.80 Increased By ▲ 0.01 (0.03%)
NBP 61.30 Increased By ▲ 1.01 (1.68%)
OGDC 200.98 Increased By ▲ 1.32 (0.66%)
PAEL 26.74 Increased By ▲ 0.09 (0.34%)
PIBTL 7.89 Increased By ▲ 0.23 (3%)
PPL 161.11 Increased By ▲ 3.19 (2.02%)
PRL 26.55 Decreased By ▼ -0.18 (-0.67%)
PTC 18.59 Increased By ▲ 0.13 (0.7%)
SEARL 82.20 Decreased By ▼ -0.24 (-0.29%)
TELE 8.32 Increased By ▲ 0.01 (0.12%)
TOMCL 34.38 Decreased By ▼ -0.13 (-0.38%)
TPLP 9.20 Increased By ▲ 0.14 (1.55%)
TREET 17.20 Decreased By ▼ -0.27 (-1.55%)
TRG 61.00 Decreased By ▼ -0.32 (-0.52%)
UNITY 27.70 Increased By ▲ 0.27 (0.98%)
WTL 1.41 Increased By ▲ 0.03 (2.17%)
BR100 10,481 Increased By 74.5 (0.72%)
BR30 31,806 Increased By 92.4 (0.29%)
KSE100 98,077 Increased By 748.6 (0.77%)
KSE30 30,461 Increased By 268.2 (0.89%)

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.