Economics
U.S. Ending Iran Waivers Could Affect Oil Markets and Beyond
- Price impact hinges on ability of others to make up shortfall
- Decision also puts focus on viability of OPEC+ output curbs
This article is for subscribers only.
Six months after the U.S. rocked oil markets by letting Iranian exports continue, its decision to end sanctions waivers that allowed shipments is also set to reverberate across the globe.
The U.S. is said to announce Monday morning in Washington that it won’t renew exemptions from its sanctions to buyers of Iranian crude after they expire on May 2. It marks a change in direction from November last year, when the Donald Trump administration granted waivers to eight importers as it sought to temper fuel prices ahead of American mid-term elections.