India got a big relief on Monday when the United States granted it oil waiver on Iran sanctions along with seven other nations. Here's what Donald Trump said after granting the waiver.
India got a big relief on Monday when the United States granted it oil waiver on Iran sanctions along with seven other nations. As India is dependent on oil imports for meeting 80% of its energy and since Iran is the country’s third largest supplier, the Donald Trump-imposed sanctions would have caused problems for India.
However, as India agreed to cut its oil imports and escrow payments from Iran in the coming months, the US granted the temporary waiver. A day after the waiver was granted, US President Donald Trump said: I’m not looking to be a great hero.
“I could get the Iran oil down to zero immediately, but it would cause a shock to the market. I don’t want to lift oil prices,” news agency PTI quoted Trump as saying.
US Secretary of State Mike Pompeo on Monday said that oil waivers have been granted to China, India, South Korea, Turkey, Italy, Greece, Japan, and Taiwan. Together, 20 nations have agreed to cut oil purchases from Iran by one million barrels per day.