Pompeo: Oil Sanctions Against Iran Will Not Affect the Oil Market
Secretary of State Mike Pompeo guaranteed that his country’s trade negotiations with China will not be influenced by the oil sanction against Iran.
China is one of the main importers of Iranian oil who had received a sanction waiver from the United States.
In a conference organized by the Hill newspaper, Pompeo stated that the United States has made efforts to find other sources to replace the Iranian oil so the sanctions would not affect the international oil market.
China, India, and Turkey are the three countries that hoped to convince the U.S to extend their sanction waivers until they can find other oil providers.
But Secretary Pompeo said: “We talked a lot with China about this issue, and I’m convinced that the trade negotiations will continue in their natural manner.”
Previously, sources in the administration announced that the United States intends to neither extend the sanction waivers for China nor accept the gradual reduction of import anymore.
The secretary of the treasury said during his trip to China that he hopes the two economic superpowers would reach a trade agreement. Steven Mnuchin said: “We are convinced that we can be confident about enough oil being offered in the market. We will continue our efforts in this matter.”
The Trump administration has pledged to reduce Iran’s oil export to zero.