U.S. granted Turkey 25 pct exemption from Iran sanctions, says Turkish minister

Turkey has been granted a 25 percent exemption from the U.S. sanctions on Iran, which is equivalent to 2 million tonnes of oil a year, Turkish opposition Sözcü newspaper reported Turkish Minister of Energy and Natural Resources Fatih Dönmez as saying.

“Of course 25 percent is still just an estimation and we haven’t received an exact number yet.” Dönmez said in an interview earlier this week.

The statement from Dönmez arrives as the United States on Nov. 4 begun a second wave of sanctions against Iran, which were lifted under a 2015 nuclear deal negotiated by President Barack Obama’s administration, targeting the country’s financial activities and oil and gas sales.

The Donald Trump administration on Nov. 5 announced China, India, Italy, Greece, South Korea, Taiwan, Japan and Turkey are to receive exemptions from the sanctions.

Turkey, Iran’s biggest natural gas customer, will be able to continue purchasing Iranian gas for the next five to six years in line with an agreement it signed in 1995 for importing natural gas from Tehran.

The United States aims to cut Iran’s oil sales, which make up about 80 percent of Iranian public revenue.

https://www.sozcu.com.tr/2018/ekonomi/iran-petrolunun-yuzde-25ine-izin-2728410/