The United States has agreed to grant temporary waivers to India and seven other countries, allowing them to buy Iranian oil after imposing sanctions from November 5.
The top buyers of the Iranian-oil include -China at the top, India the second-top importer, followed by South Korea and other countries like Japan, Italy, Turkey and UAE. Out of which, India, South Korea and Japan have been exempted and the list of other countries would be announced on November 5, officially.
Reza Zandi, a Senior Analyst in Oil and Gas Sectors of the Islamic Republic, tweeted about Trump's failure to bring down the Iranian oil supplies to zero.
Trump administration intends to strangle the Iranian economy that is contingent on their oil exports to constrain their nuclear aspirations and their alleged ballistic missile program.
The administration proclaims that the sanctions will endure until Iran conforms with Washington’s list of demands that include putting an end to their radical proxies in Yemen, Syria, Lebanon and other chunks of the Middle East, release all United States citizens and citizens of their allies, quit supporting the 'terrorist groups' in the Middle East and Afghanistan, give the International Atomic Energy Agency with uncertified access to all sites throughout the country among the few.
While Iranian leadership has rejected these conditions, they are quite reluctant to engage in negotiations with the Trump administration. In fact, threats from Tehran were received to block Strait of Hormuz, a crucial waterway controlled by Oman and Iran for the shipment of oil and natural gas to the world market.
Although, a blockage on the waterway that is the vein to transit oil would be the cause of hindrance to the global supply of oil, leading to a probable price upsurge. The route is used by giant oil exporters- Saudi Arabia, Iraq, Kuwait, Qatar, and UAE.
In the wake of these sanctions that demarcate the two countries- Islamic Republic and the United States, Donald Trump pinned a satirical tweet with reference to Game of Thrones.
HBO did not take this well, calling this attempt by the President of United States a misappropriation of the trademark for political reasons