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Trump's entry into force .. Iranian oil out of markets
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US President Donald Trump's decision to suspend US exemptions from sanctions on eight major Iranian oil importers came into force on Friday.
On Friday, May 3, 2019, the eight countries face US sanctions if they continue to buy Iranian oil.
On Friday, May 3, 2019, the eight countries face US sanctions if they continue to buy Iranian oil.
Observers point out that Iranian oil exports are going down to zero starting at dawn on Friday.
With the entry into force of the resolution, eight countries, including China, India, South Korea and Turkey, have already benefited from exemptions subject to US sanctions if they continue to import Iranian oil.
Washington's goal is to stop Iran's oil exports completely or zero and deprive Tehran of its main source of income.
US pressure on Iran has brought about the collapse of its economy. Its oil exports have fallen by 53 percent since its peak in May to 1.3 million a day. Tehran exports oil to countries that Washington has only exempted.
China alone imports more than 500,000 barrels per day of Iranian oil. India imports 405,000 barrels of oil from Iran and South Korea imports 285,000 barrels.
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