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Trump to Escalate Iran Feud by Ending Waivers; Oil Prices Climb

  • ‘We’re going to zero,’ Secretary of State Pompeo says
  • Trump says Saudis, others ‘will more than make up’ supply cut
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U.S. Secretary of State Mike Pompeo says the U.S. won’t renew waivers for countries that buy oil from Iran. Source: Bloomberg)
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The Trump administration said it won’t renew waivers that let countries buy Iranian oil without facing U.S. sanctions, a move that roiled energy markets and risks upsetting major importers such as China and India.

“This decision is intended to bring Iran’s oil exports to zero, denying the regime its principal source of revenue,” White House Press Secretary Sarah Sanders said in a statement Monday.