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Tuesday, 20 October 2020

Turkey expects to know on Monday if it has waiver for Iran sanctions

Reuters , Saturday 3 Nov 2018
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Views: 2923

Turkish Trade Minister Ruhsar Pekcan said on Saturday that Turkey has received initial indications that it will be among eight countries to be granted a waiver from U.S. sanctions against Iran, but is awaiting clarification on Monday,

NATO member Turkey depends heavily on imports to meet its energy needs and neighbouring Iran has been one of its main sources of oil because of its proximity, the quality of its crude and favourable price differentials.

"Initial information coming in is that Turkey will be amongst eight exempt countries. But we don't know for sure yet. It will be clear on Monday," Pekcan told reporters in Ankara.

An industry source said last month that Turkey had already made efforts to cut its purchases ahead of the U.S. sanctions, but would prefer to keep up some level of Iranian oil imports.

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