US won’t issue additional reduction exceptions to existing importers of Iranian oil
“Today we are announcing the United States will not issue any additional Significant Reduction Exceptions to existing importers of Iranian oil. The Trump Administration has taken Iran’s oil exports to historic lows, and we are dramatically accelerating our pressure campaign in a calibrated way that meets our national security objectives while maintaining well supplied global oil markets. We stand by our allies and partners as they transition away from Iranian crude to other alternatives. We have had extensive and productive discussions with Saudi Arabia, the United Arab Emirates, and other major producers to ease this transition and ensure sufficient supply. This, in addition to increasing U.S. production, underscores our confidence that energy markets will remain well supplied,” reads the message.
In November 2018, US Secretary of State Mike Pompeo revealed that several countries secured oil import exemptions, including: India, China, Taiwan, Japan, South Korea, Turkey, Greece, and Italy.
The exemptions were granted with the understanding that the countries will seek to reduce their imports to zero. Waivers were also issued to allow European firms to continue conversion work on two of Iran's nuclear facilities.