US prolongs embargo on Iran's oil

US prolongs embargo on Iran's oil

US President Donald Trump has decided to prolong the embargo imposed on Iran's oil, but added that the US didn’t intend to limit Iran’s ability to sell oil. 

In a memo to State Secretary Rex Tillerson and the secretaries of Energy and Treasury, Trump said there’s enough oil being produced currently by other countries that Iran’s output could be reduced without hurting global supplies, the AP reported.

But he said that given US commitments under the nuclear deal, “the United States is not pursuing efforts to reduce Iran’s sales of crude oil at this time.”

“I will continue to monitor this situation closely,” Trump added.

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