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U.S. working with nations to ensure their purchase of Iranian oil comes down to zero

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Staff Writer | October 17, 2018
Iran oil
America   "We are seeing a well-supplied and balanced oil market right now"

The Trump administration is working with countries on a case by case basis to ensure that their purchase of oil from Iran comes down to zero as soon as possible, a top U.S. official said.

In a conference call with reporters , the U.S. Special Representative for Iran Brian Hook said that their goal remains getting countries importing oil from Iran to zero as quickly as possible.

"We are working with countries that are reducing their imports on a case-by-case basis to assure that this happens. We are confident that energy markets will remain stable," the Economic Times cited him as saying.

"We are seeing a well-supplied and balanced oil market right now, and we should focus on these fundamentals and not be distracted by the emotional and unbalanced claims coming from Tehran. We are going to continue to coordinate very closely with oil producers. The U.S. is doing its part to maintain supply," Hook added.

On November 4, a second batch of potentially more crippling sanctions will be re-imposed on Iran's oil and shipping sectors as well as its central bank. The US has asked buyers of Iranian oil to cut imports to zero starting in November.


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