India, China and Turkey are set to defy US sanctions on importing Iranian Oil as Washington prepares to impose harsh sanctions on Tehran. India and China are the largest importers of the Iranian oil and despite intense US pressure, both nations are expected to defy Washington.
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Reuters quoted unnamed sources asserting that at least three of Iran’s top oil clients – India, China and Turkey – would resist US’ call to cease their oil purchase plans from Iran. The three countries, sources said, maintained that there were not sufficient supplies worldwide to replace Iranian oil volumes.
Iran has already insisted that the US can never stop it from selling crude oil to international clients, stressing that no other supplier can substitute the kind of oil it provides to overseas markets. Iran’s First Vice President Es’haq Jahangiri was quoted by media as saying that the government of President Hassan Rouhani had already planned mechanisms to counter the impacts of returning US sanctions against the nations oil exports.
Trump’s administration is preparing to launch the second wave of sanctions against Iran from November 4 in which a comprehensive ban on the country’s oil exports appears to be the primary objective.
US officials have already said the sanctions would be meant to bring down Iran’s oil exports to zero. However, Iranian officials have repeatedly rejected the feasibility of this, stressing that international consumers cannot afford to lose Iranian supplies.
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