Daily Sabah, Anadolu Agency: US wants to reduce Iran's oil revenue to zero
The U.S. wants to reduce Iran's oil revenue to zero, the State Department director of policy planning said Monday.
"We are working to minimize disruptions to the global market but we are confident there is sufficient global spare oil production capacity," Brian Hook told reporters.
Hook sad more than 50 firms announced their intent to leave the Iranian market, particularly in energy and finance sectors, as the U.S. is moving toward placing sanctions on Iran.
"We have been clear with countries and companies around the world that we are bringing severe economic pressure on Iran until the regime changes its destabilizing policies," he added.
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Update #1: US officials visiting Gulf allies to co-ordinate Iran sanctions (National Interest)
Update #2: Trump administration on Iran sanctions: 'We will not hesitate' to punish offenders (Politico)
WNU Editor: Iran will find buyers for their oil. But they will probably have to sell it at a discount, and the revenue that they had expected to receive from their oil exports will not match their predictions. Bottom line .... these sanctions are going to seriously curtail the money that the Iranian government receives, which IMHO is the ultimate (and goal) goal for these sanctions.
