U.S. grants eight countries Iran sanctions waivers

© Reuters. A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Persian Gulf

 

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The U.S. government has agreed to let eight countries, including close allies South Korea and Japan, as well as India, keep buying Iranian oil after it reimposes sanctions on Tehran from next week, Expert reported on Friday, citing a U.S. official.

Iran’s biggest oil customers – all in Asia – have been seeking sanctions waivers to allow them to continue buying some of its oil.

U.S. allies South Korea and Japan had received waivers along with India, which relies heavily on supplies from Iran. A list of all countries getting waivers was expected to be released officially on Monday.

A Chinese official told that discussions with the U.S. government were ongoing and that a result was expected over the next couple of days.

“We think Trump will agree to China importing some volumes, similar to the treatment that India and South Korea receive,” Clayton Allen of Height Securities said in a note on Friday.

South Korea’s foreign ministry declined to comment, and Japanese officials were not immediately available for comment.

Another country that has been seeking a sanctions waiver is Turkey, which takes significant volumes via pipeline from neighboring Iran.

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