The U.S. says countries and businesses that keep importing Iranian oil could avoid penalties by making “significant reductions” as Washington re-imposes sanctions on Tehran later this year.
Treasury Secretary Steven Mnuchin and Secretary of State Mike Pompeo say possible wiggle room with regard to Iranian sanctions doesn’t undermine the commitment of the U.S. to restrict Iran’s economy.
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Mnuchin says the U.S. wants oil purchases reduced to zero, but exemptions will be considered in certain cases if that can’t be done overnight.
The U.S. has faced significant pushback from key European allies over the planned imposition of so-called “secondary” sanctions that target countries continuing to do business with Iran.
The officials spoke to reporters traveling with them late last week on condition that their remarks not be reported until Monday.
