WASHINGTON - The Trump administration said on Monday that it will start imposing sanctions on a handful of countries, including key US allies, unless they stop buying oil from Iran after waivers expire next month.
It represents what a senior administration official called the"logical playing out of the President's decision to leave the Iran nuclear deal". The stage was set for Monday's action last November, when the administration reimposed sanctions that had been lifted with the 2015 nuclear agreement that the United States withdrew from in May.
"Anybody buying oil from Iran has been living on borrowed time for a year," according to a senior administration official, speaking on condition of anonymity at the insistence of the White House. US officials expect the zero-waivers policy to make a significant dent in Iran's gross domestic product, which has expanded since the nuclear accord took effect in 2016.
"The regime would have used that money to support terror groups like Hamas and Hezbollah and continue with its missile development in defiance of UN Security Council Resolution 2231," Pompeo told reporters.US officials predicted any rise in global oil prices would not be substantial and said they had agreements with other countries to increase production if necessary to offset the reduced supply.
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