US plans to further reduce Iran oil export

The United States has a plan to cut down Tehran’s oil flow by almost 20 percent from May, Reuters reported.

Donald Trump and his administration are reportedly requesting the current importing countries to reduce the amount of purchases from Iran to avoid US sanctions.

According to the plan Iran’s oil export will be reduced to below one million barrels per day (bpd).

“The United States will likely renew waivers to sanctions for most countries buying Iranian crude, including the biggest buyers China and India, in exchange for pledges to cut combined imports to below 1 million bpd,” said the Reuters report.

 “That would be around 250,000 bpd below Iran’s current export of 1.25 million bpd,” it added.

Trump and his administration has special focus on Iran’s oil business and are trying to reduce the exportation to zero level. 

Last May, Trump pulled out of the 2015 Iran Nuclear and re-imposed international oil sanctions against Tehran since November.

SOURCE:avatoday