WASHINGTON—The U.S. threatened to slap sanctions on countries that don’t cut oil imports from Iran to “zero” by Nov. 4, part of the Trump administration’s push to further isolate Tehran both politically and economically, a senior U.S. State Department official said. Buyers of Iranian crude had expected the U.S. would allow them time to reduce their oil imports over a much longer period, by issuing sanctions waivers for nations that made significant efforts to cut their purchases. That expectation was partly based on previous...
The US has warned countries to end oil imports from Iran by 4 November or risk penalties. The move follows Washington's reimposition of sanctions on Tehran in a bid to isolate it politically and economically. Oil prices have fallen sharply since the lifting of international sanctions, with Brent crude falling below $45 per barrel for the first time this year. But senior State Department officials said it will issue no such waivers.