Trump: There's sufficient oil from countries other than Iran

Trump determines there's sufficient supply of petroleum from countries other than Iran to permit a reduction in purchases from Iran.

Elad Benari,

Donald Trump
Donald Trump
Reuters

US President Donald Trump said on Wednesday that he had determined there was sufficient supply of petroleum and petroleum products from countries other than Iran to permit a reduction in purchases from the Islamic Republic.

In a memorandum for the Secretary of State, the Secretary of the Treasury, and the Secretary of Energy, Trump wrote that after carefully considering reports submitted to the Congress by the Energy Information Administration as well as other relevant factors, he had determined “that there is a sufficient supply of petroleum and petroleum products from countries other than Iran to permit a significant reduction in the volume of petroleum and petroleum products purchased from Iran by or through foreign financial institutions.”

The memorandum was published several days before another round of US sanctions against Iran is slated to go into effect.

The sanctions, targeting Iran's oil and shipping industries, will go into effect on November 4. They were announced after Trump withdrew from the 2015 nuclear deal between Iran and world powers.

The European signatories to the deal did not agree with Trump’s decision to leave the deal and have been trying to save the accord, which they see as crucial to forestalling an Iranian nuclear weapon.

Last month, the European Union vowed to help Iran evade the economic sanctions imposed by the US, shielding companies doing business with the rogue state in an effort to preserve the nuclear deal.


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