Iran says US waivers for 'illegal' sanctions have no credit: Spokesman

Iran says US waivers for 'illegal' sanctions have no credit: Spokesman Iran says US waivers for 'illegal' sanctions have no credit: Spokesman

Iran says it considers no value and credit for US sanctions waivers, which allow importers to continue buying Iranian oil, but is in touch with European partners and neighbors to counter any adverse consequences of sanctions.

"Given the illegal nature of these sanctions, the Islamic Republic of Iran has not considered and will not consider any value or credit for waivers granted [to customers of the Iranian oil] on [US] sanctions," Iranian Foreign Ministry Spokesman Abbas Moussavi said on Monday.

"However, in view of the practical negative effects of these sanctions and the possibility of further intensification of those negative effects [after US refusal to renew the waivers], the [Iranian] Foreign Ministry has been continuously in touch with all relevant domestic institutions while holding comprehensive consultations with many foreign partners, including Europeans, international [ones] and neighbors," he added, noting that Iran would make a proper decision in this regard and make it public soon.

In a statement issued on Monday, the White House said US President Donald Trump has decided not to renew waivers that allow eight countries to buy Iranian oil without facing Washington's sanctions.

The White House said that the US president would not reissue Significant Reduction Exceptions (SREs) when they expire in early May, a move aimed at bringing Iran’s oil exports to zero.

"The United States, Saudi Arabia and the United Arab Emirates ... along with our friends and allies, are committed to ensuring that global oil markets remain adequately supplied," the White House statement said, adding, "We have agreed to take timely action to assure that global demand is met as all Iranian oil is removed from the market."

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