U.S. President Donald Trump
U.S. President Donald Trump said Monday he is cautious about the effects his sanctions will have on global oil markets, saying the penalties will be imposed gradually.
"I don’t want to drive the oil prices in the world up," he said addressing reporters shortly after the U.S. reinstated all of the sanctions it lifted as part of a nuclear accord world powers struck with Iran.
"I’m not looking to be a great hero and bring it down to zero immediately," he said, referring to global imports of Iranian oil. "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."
The U.S. earlier announced that eight countries -- China, Greece, India, Italy, Japan, South Korea, Taiwan and Turkey -- are being granted temporary six month waivers from the economic penalties targeting imports of Iranian crude. Iran is OPEC's third largest oil exporter.
U.S. President Donald Trump's national security adviser John Bolton said there will be additional U.S. sanctions on Iran after the Trump administration on Monday re-imposed oil and economic sanctions, but gave no other details."We're going to have sanctions that even go beyond this. We're not simply going to be content with the level of sanctions that existed under (former U.S. President Barack) Obama in 2015," Bolton said in an interview on Fox Business Network, according to a transcript. "More are coming."Senior official says Iran not concerned about reimposed US sanctionsUS grants temporary Iran oil waivers to eight countries including Turkey: PompeoUS sanctions to cause destructive effect: Senior MPIran's Zarif says sanctions 'backfiring,' isolating US
US's Bolton says more sanctions on Iran coming
Iran is not concerned about reimposed U.S. sanctions and will not yield to pressure to change its policies, a senior Iranian official said on Monday."These sanctions are not new ... We are familiar with America's sanctions. We are not concerned about these sanctions and will not yield to the pressure," said the official, who asked not to be named. US grants temporary Iran oil waivers to eight countries including Turkey: PompeoIran's Zarif says sanctions 'backfiring,' isolating USBritain regrets imposition of US sanctions on Iran: PM May's spokesmanGermany says legal business relations with Iran should be possibleNetanyahu says Trump made courageous decision on US sanctions on Iran
Senior official says Iran not concerned about reimposed US sanctions
Secretary of State Mike Pompeo said the exemptions are intended to ensure oil markets continue to be well-supplied.
Pompeo said each country which received waivers “has already demonstrated significant reductions of the purchase of Iranian crude over the past six months," adding two of the eight have reduced imports of Iranian crude to zero.
"We continue negotiations to get all of the nations to zero," he said.
Trump unilaterally withdrew the U.S. from the 2015 Joint Comprehensive Plan of Action in May, setting the stage for Washington to reimpose all of the sanctions it lifted as part of the agreement.
All of the other signatories -- China, the European Union, France, Germany, Iran, Russia and the United Kingdom -- have remained in the deal.
The accord provided Iran with billions of dollars in relief from international sanctions in exchange for sweeping curbs on and inspections of its nuclear program.
Europe's Airbus SE indicated on Tuesday that it did not expect a sales windfall from trade tensions between China and the United States, with the manufacturer's China head saying there would be "no winner" from a prolonged economic conflict.Airbus China CEO George Xu said such tensions would hurt aviation growth by depressing middle class incomes."I am Chinese and we don't like this kind of trade war," Xu said at a news conference. "Nobody will be the winner in this kind of trade war."Airbus has been trying to unlock talks with China over a long-delayed deal to sell up to 180 jets, and its board in September held an unusual meeting in China. Alibaba's Jack Ma says US-China trade war is 'most stupid thing in this world'Australian foreign minister to visit China as frosty relations thawChina says its lawful trade with Iran should be respected
Airbus China CEO says 'no winner' from US-China trade war