Economics
U.S. Increases Pressure on Iran's Faltering Oil Exports
- Fears U.S. will quash plans for Iranian oil export credit line
- Tensions may ease if Trump and Rouhani meet late-September
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The U.S. has placed new sanctions on Iran and a top American official has said more measures will follow, further restricting the Islamic Republic’s ability to export oil. Iran is exporting a fraction of the crude it previously shipped because of sanctions and the U.S. may look to tighten the flow of other oil products next.
The U.S. Treasury Department imposed new restrictions on a shipping network controlled by Iran’s Islamic Revolutionary Guard Corps on Wednesday. “There will be more sanctions coming,” Brian Hook, the U.S. special envoy for Iran, said at the State Department soon after the announcement.