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US likely to extend 4 Iran oil sanctions waivers: Reports

US is likely to extend exemption from sanctions for at least four major customers of Iran's oil as the previous waivers are getting expired in May, a London-based energy website reported.

US likely to extend 4 Iran oil sanctions waivers: Reports
(Thursday, April 4, 2019) 11:40
'The US in early May will likely extend expiring sanctions waivers to at least four of Iran's top crude and condensate buyers,' according to a survey conducted by S&P Global Platts.

'One source familiar with the administration's current plans for next month said the US would allow China to maintain its current Iranian imports of about 500,000 b/d, require India to cut to 300,000 b/d from 350,000 b/d currently, and Turkey to about 75,000 b/d,' according to the website.

'Under the current plan, South Korea would be tasked with lowering its Iranian condensate purchases by another 10%, or about 18,000 b/d,' the website qouted the source.

The waivers made Iranian crude and condensate exports increase to 1.3 million bpd in the first quarter of 2019 by 170,000 bpd compared to the figure of the fourth quarter in 2018, according to the website.

Trump imposed sanctions on Iran after he announced unilateral withdrawal from the nuclear deal in May 2018.

The other signatories—China, Russia, UK, France and Germany—expressed their support for the deal and announced commitment to trade with Iran despite US warnings.

The report also predicted that Iran's oil imports by the customers would decrease ahead of May due to uncertainty over the waivers.
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