Economics

Pompeo Defends Temporary Waivers Granted for Iran Oil Buying

U.S. sanctions on Iran’s energy, shipping to hit on Monday
Administration tries to pressure Tehran without spiking oil

Daniel Hynes, senior commodity strategist at Australia & New Zealand Banking, discusses oil prices and output.(Source: Bloomberg)

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By Ben Brody

November 4, 2018 at 3:25 PM UTC

Updated on

November 4, 2018 at 4:40 PM UTC

This article is for subscribers only.

Secretary of State Michael Pompeo defended the temporary waivers granted to eight countries to continue buying Iranian crude oil for now against Congressional critics and others who say the U.S. is being too lenient on the Islamic Republic.

The comments on “Fox News Sunday” come a day before U.S. sanctions on Iran’s energy and shipping are due to snap back following President Donald Trump’s decision to withdraw from the 2015 multilateral nuclear agreement.