(ET)
The Trump administration has put India in a tight energy fix and strategic tangle, ending the waiver that allowed New Delhi to buy Iranian oil even as it whittled down supplies from Teheran, a long-term source and partner in the region.
“The current waivers expire on May 2. There are no SRE (Significant Reduction Exemption) waivers that extent beyond May 2. Full stop,” US secretary of state Mike Pompeo announced at a state department briefing on Monday, signaling an end to anearly year-long breathing room the Trump administration had given to eight countries, including India and China, after putting them on notice to stop buying Iranian oil.
“Any action or entity interacting with Iran should do its due diligence and err on the side of caution,” Pompeo warned, adding, “We will no longer grant exemptions. We’re going to zero. We’re going to zero across the board.” Entities that continue to trade with Iran will invite US sanctions.
