Economy

US’s Pompeo urges allies to cut off funding to Iran

US’s Pompeo urges allies to cut off funding to Iran”

But so far it has proven hard to offset the impact of USA sanctions, with European firms reluctant to risk far-reaching US financial penalties to do business in Iran.

"Well, that will violate the sanctions that we put in place".

Adding to its exports crisis, the U.S. has been increasing sanctions on various Venezuelan nationals and companies, part of a campaign to pressure socialist President Nicolas Maduro to make political and market reforms. The port is India's gateway to trade with Iran, Afghanistan and central Asian countries and will allow it to bypass Pakistan, which has denied New Delhi transit access.

He urged them to join a US -led economic pressure campaign against Tehran that began in earnest after President Donald Trump withdrew from the landmark Iran nuclear deal in May. However, the Ministry of External Affairs has maintained that India would consult "all stakeholders" in the matter to ensure energy security.

In another tweet, Pompeo said that on Thursday, together with allies from Britain, France, Germany, Saudi Arabia and Jordan "we reaffirmed our support for the Syrian political process and our goals of removing Iran's influence, defeating #ISIS, deterring chemical weapons use".

Last week, while ruling out waivers to India and Turkey - which have told Washington that they would continue to import oil from Iran - the U.S. had indicated willingness to work with countries that are reducing their oil imports from Iran.

In June, India imported 592,800 barrels per day (bpd) of oil from Iran compared to 705,200 bpd in May.

HPCL-Mittal Energy Ltd continued to skip Iran oil imports for a second month in June, the data showed.

Referring to the current customers of Iranian oil, to which the U.S.is calling upon to cut off crude oil imports from Iran, the state department official said that "we are very serious and determined about re-imposing our sanctions that were lifted under the Iran nuclear deal, and we are working very closely with nations to provide alternatives to the Iranian supply of oil". Three others are headed for undisclosed ports on India's west coast from the US Gulf Coast.

Mr. Pompeo spoke as he wound up a short trip to the United Arab Emirates, a staunch USA ally, and as senior US officials were wrapping up three days of talks in neighboring Saudi Arabia centered on Iran.

Imports by state refiners during the period more than doubled to about 413,400 bpd from 191,700 bpd, the data showed. SHIFT UNDERWAY Some Indian refiners have finished testing runs of United States oil this year, often by mixing it with heavier grades those plants typically process, analysts and traders said.

Two more VLCCs - the Ghinah and the Eagle Victoria - were scheduled to leave the Texas coast for undisclosed ports in India this month, bringing planned United States oil exports to India to at least 191,000 bpd for the month.



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