Pompeo talks tough on Iran while visiting UAE

Pompeo talks tough on Iran while visiting UAE

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

The country supplied 18.4 million tonnes of crude oil between April 2017 and January 2018, but latest figures showed India's oil imports had declined by 15.9% in June, the first month after the U.S. said it would reimpose sanctions, Reuters reported citing data from shipping and industry sources.

In May, the United States pulled out of a multinational deal that lifted many sanctions against Iran in return for curbs to its nuclear program.

Disappointed at India for not making promised investments in Iran's Chabahar port, Iran on Tuesday warned India of ending "special privileges".

Listing the "privileges", he said that in the previous round of sanctions "Iran did its best to ensure security of oil supply to India and offered flexibility through selling oil with longer term credits and discounted prices as well as oil payments in rupee, and insurance coverage for oil shipments which facilitated our bilateral trade and pushed up significantly Indian export to Iran". At the same time, however, a statement issued by the Iranian embassy underscored the need for India to expedite its investments and to push partner companies to accelerate the execution of projects linked to the development of the strategic Chabahar port.

The newspaper also pointed out that US President Donald Trump recently asked Saudi Arabia to pump at least 2 million more barrels a day, but received a reply that stopped short of a commitment to do so.

Trump swipes at NATO spending ahead of summit Pompeo offers support for Taliban peace talks during surprise Afghan visit Trump: China may be exerting "negative pressure" on North Korea MORE ramped up his warnings to Iran on Tuesday, saying that the USA and its Gulf Arab allies would pay a "real high cost" for Tehran's "malign behavior" in the Middle East and elsewhere.

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Iran's foreign ministry and the central bank have taken measures to facilitate banking operations despite the USA sanctions, Jahangiri said without elaborating.

President Donald Trump said in May he would pull the United States out of an global accord under which Tehran had agreed to limit its nuclear development in exchange for sanctions relief.

The other signatories to the accord, which include Russia, China, the UK, France and Germany, however, have strongly objected to the US's withdrawal, and vowed to try to preserve the deal.

Iran is the third largest crude oil supplier after Iraq and Saudi Arabia.

Last month, India's oil ministry asked refiners to prepare to limit imports of Iranian oil ahead of U.S. sanctions that take effect in November. Imports from other Middle East suppliers also increased.

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

Imports by state refiners during the period more than doubled to about 413,400 bpd from 191,700 bpd, the data showed.

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