Turkey slams U.S. decision to end waivers on Iran oil sanctions

Ankara criticised Washington’s decision to end waivers on Iranian oil sanctions, saying it would not serve regional peace and stability, the Turkish foreign minister tweeted on Monday.

“We do not accept unilateral sanctions and impositions on how we build our relationship with our neighbors,” Foreign Minister Mevlüt Çavusoğlu said on Twitter.

The tweet follows U.S. President Donald Trump’s decision on Monday that Washington will not renew waivers that let countries buy Iranian oil without facing U.S. sanctions as part of a move by Washington to accelerate its goal of driving Iran’s oil exports to zero.

Analysts expected the Trump administration to extend the waivers to China, India, Japan, South Korea and Turkey, all of which took advantage of the waivers during the first six-month window that began in November, when the Trump administration first restored energy sanctions on the Islamic Republic. 

Turkey’s trade volume with neighbouring Iran amounts to around $9 billion, including large quantities of imported Iranian raw petroleum materials and natural gas.

Ankara had applied for a fresh waiver on Iranian oil purchases after one was granted last year when the new round of U.S. sanctions took effect.