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US pressing allies to end Iran oil imports by November 4, official says

The US wants its allies to stop all imports of Iranian oil by its Nov. 4 deadline. The announcement sent oil prices surging on expectations the move will tighten energy markets more than expected.

Photo: Bloomberg

The US is pressing allies to end all imports of Iranian oil by a Nov. 4 deadline and does not want to offer any extensions or waivers to that timeline, a decision that sent oil prices surging on expectations it will tighten energy markets significantly more than expected.

The desire to slash Iranian oil exports comes as Washington follows through on President Donald Trump's decision in May to quit the 2015 Iran nuclear deal, a move criticized by allies from Asia to Europe. In a briefing Tuesday, a State Department official said that while the administration would not rule out waivers or extensions to the November deadline – which Trump announced when he withdrew from the accord – it is not discussing them either.

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