ECONOMY

US representative to hold talks with EU, India on Iran oil embargo

Brian Hook, special representative for US foreign affairs, will visit several European countries and India for talks regarding Iran’s oil embargo. (Supplied)

Brian Hook, Washington's special representative for Iran, will visit several European countries and India for talks regarding Iran’s oil embargo that will begin with the start of the second round of sanctions in November.

According to a statement issued by the US Department of State, Assistant Secretary of State for Energy Resources Frank R. Fannon will accompany Hook, who is due to meet EU foreign ministers in Luxemburg to discuss US sanctions on Iran, and on a visit to France and Belgium.

The meetings are scheduled around the same deadline Iran set for European countries to follow through with the nuclear deal, which will be annulled when the second round of sanctions, including the ban on Iranian oil exports, begin on November 4.

The EU foreign ministers hope to reach an agreement with the US to obtain waivers from sanctions that would reduce Iranian oil revenues without enforcing a total ban.

India, the second largest buyer of Iranian crude oil, announced in August that it will consider cutting its imports from Iran by half to secure sanction waivers from the US.

The Trump administration is hoping to stifle all Iranian exports within a month of enforcing the second round of sanctions.

While other countries like Japan and South Korea announced their commitment to stop buying Iranian oil, the US is finding it increasingly difficult to convince European countries to do the same.

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Last Update: Friday, 12 October 2018 KSA 15:55 - GMT 12:55
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