Sanctions are working, says special envoy on Iran, as US ends waivers for countries buying Iranian oil

Special Envoy for Iran Brian Hook said nations can do business with the United States and the whole global financial system or import oil from Iran, but they cannot do both.
Special Envoy for Iran Brian Hook said nations can do business with the United States and the whole global financial system or import oil from Iran, but they cannot do both. ST PHOTO: NIRMAL GHOSH

WASHINGTON - The United States has been assured by Saudi Arabia that it will compensate for Iranian oil taken off the market as a result of US sanctions, Special Envoy for Iran Brian Hook said, minutes after Secretary of State Mike Pompeo announced the end of waivers for countries importing Iranian oil on Monday morning (April 22).

"Anybody who wants oil can get it at the volume, grade and compatibility that they want," Mr Hook told The Straits Times in an interview. "The oil market is an entirely different place than six months ago when we had to grant oil waivers. Countries have been given a year to make the transition. More than 20 countries have already made the transition to zero from all over the world."

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