US Grants Waives to Iran’s Biggest Clients

The United States snapped sanctions back in place on Monday to choke off Iran’s oil and shipping industries, while temporarily allowing top customers such as China and India to keep buying crude from the Islamic Republic.


West Texas Intermediate graph

Having abandoned a 2015 Iran nuclear deal, U.S. President Donald Trump is trying to cripple Iran’s oil-dependent economy and force Tehran to quash not only its nuclear ambitions and its ballistic missile program but also its support for militant proxies in Syria, Yemen, Lebanon and other parts of the Middle East.

Earlier, Iranian President Hassan Rouhani said Iran would to continue to sell its oil despite Washington’s “economic war.” Foreign Minister Mohammad Javad Zarif said U.S. “bullying” was backfiring by making Washington more isolated, a reference to other world powers opposed to the initiative.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza