U.S. to fail to cut Iran oil exports to zero – ministry source to Tasnim agency

DUBAI (Reuters) – The United States will fail to cut Iranian oil exports to zero, even if Washington ends waivers granted to buyers of Iranian crude, the semi-official Tasnim news agency on Monday quoted an unnamed Iranian oil ministry source as saying.

The United States is expected to announce on Monday that buyers of Iranian oil need to end imports soon or face sanctions, a source familiar with the situation told Reuters, triggering a 3 percent jump in crude prices to their highest so far this year.

“Whether the waivers continue or not, Iran’s oil exports will not be zero under any circumstances unless Iranian authorities decide to stop oil exports … and this is not relevant now,” Tasnim quoted the unnamed “informed source” as saying.

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