Asia Oil Buyers Said to See More Chance for U.S. Waivers on Iran

Date: 19 October 2018 - 21:14

News ID: ۵۸۶۷۹

NEW YORK (Dispatches) - Asian buyers of Iranian oil are gaining confidence they will win U.S. consent for some imports to continue even after American sanctions snap back next month.
Major Iranian customers South Korea, India and Japan are in talks with Washington for waivers, highlighting the specific reasons they need to continue purchases, according to people familiar with the discussions. Despite the upbeat tone, the exemptions from the U.S. haven’t been finalized and may not end up being approved, they said, asking not to be identified because the negotiations are confidential.
The U.S. has so far insisted that all purchases from Iran must drop to zero. The oil market has tightened, sending Brent crude to a four-year high over $85 a barrel.
Meanwhile, Turkey’s top refiner, Tupras, is in talks with U.S. officials to obtain a waiver allowing it to keep buying Iranian oil.
"They would like to be able to continue importing 3-4 cargoes a month, like they did during the previous sanctions round. But if the U.S. would tell them to stop, they will oblige and work towards achieving that,” the source said, Reuters reported on Thursday.
Turkey imported around 97,000 barrels per day of Iranian oil in August and 133,000 bpd in September, compared with just over 240,000 bpd in April, tanker tracking and shipping data showed.
And in the first two weeks of October, Turkey has purchased three 1 million barrel-cargoes of Iranian oil - a level that would equate to about 97,000 bpd if it made no other purchases this month.