INSUBCONTINENT EXCLUSIVE:
United States President Donald Trump said all purchases of Iranian oil or petrochemical products must stop and any country or person buying
any from the country would be immediately subject to secondary sanctions.
They will not be allowed to do business with the United States of
America in any way, shape, or form, he wrote on Truth Social on Thursday, Reuters reported.
Trumps comments follow the postponement of the
latest United States talks with Iran over its nuclear program, which had been due to take place in Rome on Saturday
A senior Iranian official told Reuters a new date will be set depending on the United States approach
Trumps administration has targeted Tehran with a series of sanctions on entities including a China-based crude oil storage terminal and an
independent refiner it has accused of being involved in illicit trade in oil and petrochemicals.
In February Trump restored a maximum
pressure-quot; campaign on Iran which includes efforts to drive its oil exports to zero and help prevent Tehran from developing a nuclear
weapon.
Secondary sanctions are those where one country seeks to punish a second country for trading with a third by barring access to its
own market, a particularly powerful tool for the United States because of the size of its economy.
Analysts have said that to really crack
down on Irans oil exports the United States would have to impose secondary sanctions on entities such as Chinese banks that facilitate the
China is the largest buyer of Iranian crude.
The post Trump says buying Iranian oil must stop, threatens secondary sanctions on
purchasers first appeared on TINS News.
