WASHINGTON—The Trump administration will consider requests for waivers from economic sanctions against Iran on a “case-by-case” basis, a senior State Department official said Monday, a step back from threats to insist on zero imports by a Nov. 4 deadline. Buyers of Iranian crude oil have been hoping for relief from U.S. sanctions to have more time to reduce purchases. Oil prices rose to multiyear highs last week after U.S. officials signaled the administration would act to cut Iran exports faster than expected and said all...
Senior US State Department official Brian Hook said that countries requesting waivers from US sanctions against Iran will be examined "on a case-by-case basis", a departure from previous threats of sanctions for any country not complying 100% by Monday. His comments followed questions about India’s and Turkey’s decisions to continue purchasing oil from Iran, despite a US ban, and follow rising oil prices on the expectation of lower supply from Iran coupled with uncertainty on spare capacity from other countries to make up the shortfall. More than 50 international companies have thus far committed to stop trade with Iran, he said.