Economics
Iran Oil Buyers Craving Obama's Waivers Get Trump Shock Instead
- Tougher U.S. stance on Iran catches Asian oil buyers off guard
- Trump pressure spurs top crude importers to shun Iran supplies
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Oil buyers who viewed Obama-era policies as precedent for U.S. sanctions on Iran are getting a rude shock.
A Trump administration demand that oil purchases should stop has blindsided Asian importers who assumed they would only have to reduce shipments from the Persian Gulf state. Now, one after another, buyers are complying to avoid being cut off from the American financial system when restrictions on Iranian supplies take effect in November.