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Trump: Oil supplies are sufficient to cut purchases from Iran
| Thursday, November 1, |
announced that US President Donald Trump , the oil supply is sufficient to reduce purchases from Iran .
Trump said in a presidential note that he "concluded that there was sufficient supply of oil and petroleum products from countries other than Iran to allow the United States to reduce its purchases from Tehran, " Trump said in a presidential note .
The memo, addressed to the ministries of foreign affairs, treasury and energy, comes days before the renewal of US sanctions on the Iranian oil sector scheduled for the fifth of this month.
US sanctions on Iranian crude exports are expected to cut supply, particularly to Asia , which takes most of Iran's oil shipments, as both Saudi Arabia and Russia prepare to fill any gap in Iran's supply of the market.
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