Connect with us

Featured

US Could Give China A Waiver To Import Iranian Oil; India Could Join The List Too

Published

on

Washington is contemplating using an Obama-era loophole to permit China to import Iranian Oil which may disrupt Donald Trump pledge to bring Iranian oil exports down to zero. If China gets oil waiver, India will be the next country to get a waiver to import Iranian Oil as New Delhi has already been permitted to work with Iran on the vital Chabahar Port.

India Completely Halts Import of Iranian Oil Under US Pressure: Reports

Only last week, a senior State Department official handling Iran said the US would “sanction any imports of Iranian crude oil.” But according to three US officials, the department’s Iran envoy, Brian Hook, and his team of negotiators have discussed granting China a waiver to a 2012 law intended to kneecap the Iranian oil industry.

The alternative is allowing China, which recently welcomed a shipment of approximately a million barrels of Iranian oil, openly to defy US sanctions, Politico reported on Wednesday.

The Trump team has kept the details of its deliberations closely held as news reports of the Chinese oil imports have proliferated in recent days — and hawks on Capitol Hill have begun to ask questions. It is the latest in a series of dust-ups between the administration and Congress on an Iran policy that has often appeared inconsistent, careening between threats of military action and offers to talk with Iranian leaders.

The 2012 Iran Freedom and Counterproliferation Act targeted the Iranian shipping, shipbuilding and energy sectors, requiring states or companies that wish to import Iranian oil and conduct business with the US to obtain waivers from the US government. A separate law targeted purchases, rather than imports of that oil.

Officials say the State Department is discussing an arrangement that would allow China to import Iranian oil as payment in kind for sizable investments of the Chinese oil company Sinopec in an Iranian oil field — and administration officials have offered to issue a waiver for the payback oil in official correspondence between the State Department and Sinopec, according to a source familiar with the situation.

Much of the rhetoric from the State Department has specified that the US is targeting purchases — rather than imports — of Iranian oil, a distinction that will become important under the law if the department decides to give China a pass.

The US decided not to extend its sanctions waivers to eight importers of Iranian crude after the exemptions expired at the beginning of May, but Iran is operating in the shadows of the global oil market. China is the top buyer of Iranian oil and nearly all its oil payments go through Kunlun Bank.

Advertisement
Advertisement

Facebook

FEATURED

INDIAN-NAVY INDIAN-NAVY
Americas3 hours ago

What Is US’ Most Lethal Submarine Killer – The P-8 Poseidon Doing On India-China Border At 15,000 Feet?

US-made Boeing P-8I Poseidon maritime patrol aircraft, also known as ‘Submarine Killer’, has been deployed in Eastern Ladakh near the...

HYPERSONIC-MISSILE HYPERSONIC-MISSILE
Featured3 hours ago

Indian BrahMos Goes Global; After Indonesia, Brazil Looks To Arms Its Gripen Jets With Indo-Russian Missile

The BrahMos-NG is intended to be a mini-version of the existing BrahMos, being lighter and shorter while still having a...

CHINA-amphibious-aircraft-AG600 CHINA-amphibious-aircraft-AG600
Asia Pacific4 hours ago

Seaplanes Set To Make A Comeback As China Threatens The US With Its Amphibious ‘Fish Dragon’

Decades ago, seaplanes proved their might during World War I for surveillance and reconnaissance. Not just that, seaplanes were later...

eurasian times eurasian times
Featured5 hours ago

Top Iranian Nuclear Scientist Assassinated Near Tehran; Fingers Raised Towards Mossad

A senior scientist linked to the Iranian nuclear program, Mohsen Fakhrizadeh-Mahabadi, was assassinated in Damavand, east of Tehran on Friday,...

indian-air-force indian-air-force
Featured8 hours ago

Third Indian MiG-29 Crashes In A Year – Is It Time To Bid Adieu To Russian Jets & Welcome Western Fighters?

The Indian Navy said on Friday that a MiG-29K trainer aircraft had crashed in the Arabian Sea around 5 pm...

BULLET-TRAIN BULLET-TRAIN
Featured9 hours ago

Modi’s Trillion Dollar Baby: India Bets Big On Its Largest Govt-Funded Project – The Bullet Train

India is gearing up to build its first bullet train corridor covering 508 kilometers between Mumbai and Ahemdabad. The National...

india-russia india-russia
EurAsian Region10 hours ago

India, Russia To Showcase Their Naval Might In Joint Drills In Baltic Sea

The Russian and Indian navies are likely to conduct joint drills in the Baltic Sea sometime next year, according to...

Pakistani-Passport Pakistani-Passport
Featured12 hours ago

UAE Visa Ban Starts To Pinch Pakistan; 3000 Jobs Lost In First Week As Indian Workers Rejoice

OPED By Haider Abbas

Bubonic Plague Bubonic Plague
Americas14 hours ago

As China Slips In The Covid-19 Vaccine Race, Will Russia Eclipse The US & UK To Get The 1st Shot Out?

As the world continues to battle Covid-19, a study on the efficacy of Chinese Sinovac Biotech’s vaccine, published in the...

RSS-HINDU-GROUP RSS-HINDU-GROUP
Featured14 hours ago

#LoveJihad: Democratic India Plans To Combat ‘Love Jihad’ In An Attempt To Control Interfaith Marriages

Hindu right-wing has coined the term “love jihad”, to describe the marriage of a Hindu girl to a Muslim boy....

Advertisement
Advertisement