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SINGAPORE/LONDON (Reuters) – Iran’s oil exports have fallen sharply since U.S. President Donald Trump said at mid-year he would reimpose sanctions on Tehran, but with waivers in hand the Islamic Republic’s major buyers are already planning to scale up orders again antique cufflink styles uk sale. The original aim of the sanctions was to cut Iran’s oil exports as much as possible, to quash its nuclear and ballistic missile programs, and curb its support for militant proxies, particularly in Syria, Yemen and Lebanon..
But the exemptions granted to Iran’s biggest oil clients – China, India, South Korea, Japan, Italy, Greece, Taiwan and Turkey – allow them to import at least some oil for another 180 days and could mean exports start to rise after November. This group of eight buyers imported over 80 percent of Iran’s roughly 2.6 million barrels per day (bpd) of oil exports last year, Refiniv Eikon data shows. GRAPHIC: Iranian oil imports of 8 countries given waivers – tmsnrt.rs/2D30JeW antique cufflink styles uk sale. “The decision by the U.S. (to grant waivers) represents a departure, for now, from the stated aim of reducing Iran’s oil exports to zero,” said Pat Thaker, regional director for the Middle East and Africa at the Economist Intelligence Unit..
Iran’s crude exports have fallen significantly from at least 2.5 million bpd in April, before Trump in May withdrew the United States from a 2015 nuclear deal with Iran and reimposed sanctions, although estimates vary. As a result of pre-sanctions pressure by Washington, Iran’s oil exports in November may not exceed 1 million to 1.5 million bpd, according to industry estimates antique cufflink styles uk sale. Companies that monitor Iran’s shipments are already seeing a drop in tanker activity this month. “We’ve only seen 10 tankers loading at, or signaling for Iranian terminals in November so far, which is significantly lower than what we usually see at the beginning of the month,” said Kpler, a data intelligence company..
According to Refinitiv Eikon data, Iranian crude exports have fallen to 1 million bpd so far in November antique cufflink styles uk sale. An industry source who also monitors such shipments said the figure was likely to be on the low side. Iran expects to maintain crude exports of at least 1.1 million bpd after the reimposition of sanctions, a source familiar with Iranian thinking said, as the global market is too tight to allow a full stoppage. In October, Iran’s crude exports were estimated at 1.82 million bpd by Kpler and 1.5 million bpd by another firm that monitors Iranian shipments..
Japan’s trade minister, Hiroshige Seko, said on Tuesday that Japanese buyers of Iranian oil were expected to resume imports from the Islamic Republic after the country received a waiver from U.S. sanctions antique cufflink styles uk sale. S&P Global Platts reported on Tuesday that South Korea would be able to take around 4 million barrels a month (130,000 bpd) of Iranian crude and condensate under a U.S. sanctions waiver. Japan and South Korea, close U.S. allies, had toed the Washington sanctions line and stopped buying crude from Iran..