The administration has cut deeply into Iranian oil exports in a very short time, analysts say, and the waiver elimination aims to cut them off completely. "I don't think Iranian oil will stop flowing," said Elizabeth Rosenberg, a former senior adviser at the Treasury Department. In November, the administration gave eight countries waivers to continue their imports of Iranian crude and condensate: China, India, Turkey, South Korea, Japan, Taiwan, Greece and Italy. In the meantime, Iranians are expected to continue smuggling oil, possibly finding routes through Pakistan, Iraq and Afghanistan among other places. Rosenberg said oil market realities are another reason it will be hard to eliminate Iranian oil exports.

Source: CNN May 03, 2019 01:25 UTC