29 Mar 2024
Saturday 10 November 2018 - 10:37
Story Code : 326067

Trump: Iran sanctions waivers won't drive oil prices up to $150 per barrel



Sputnik - President Donald Trump said during a press conference on Wednesday that his administration granted temporary waivers with respect to sanctions against Iran in order to avoid increasing oil prices.



"I dont want todrive the oil prices upto $100 $150, which could happen very easily. It is a very fragile market, I know it very well," Trump told reporters.


The United States granted waivers toeight nations China, Greece, India, Italy, Japan, Turkey, South Korea and Taiwan topurchase oil fromIran.

In addition, Secretary ofState Mike Pompeo agreed togrant an exemption toallow the development Iran's Chabahar fromthe sanctions re-imposed bythe United States so that it can be used byAfghanistan.

Trump characterized the issuing ofwaivers asthe "absolutely right decision" and noted that his stance brought the oil prices down.

The US president said he is putting efforts toreduce the price ofoil because he considers it tobe a tax onconsumers.

In May, Trump announced that the United States would withdraw fromthe Iran nuclear agreement and re-impose sanctions againstTehran that had been lifted underthe accord.

The first roundof the US restrictions entered intoforce inAugust, and a second, more severe roundcame intoeffect onMonday.

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