US aims to cut Iran oil exports to under one million bpd from May: report | World News, The Indian Express

US aims to cut Iran oil exports to under one million bpd from May: report | World News, The Indian Express

By Reuters |Washington |Updated: March 14, 2019 10:19:40 am

US aims to cut Iran oil exports to under one million bpd from May: report

The United States will likely renew waivers to sanctions for most countries buying Iranian crude, including the biggest buyers China and India, in exchange for pledges to cut combined imports to below 1 million bpd.

The US reimposed sanctions in November after pulling out of a 2015 nuclear accord between Iran and six world powers. (File Photo)

The United States aims to cut Iran’s crude exports by about 20 per cent to below 1 million barrels per day (bpd) from May by requiring importing countries to reduce purchases to avoid U.S. sanctions, two sources familiar with the matter told Reuters.