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Turkey halted Iranian crude purchases as of May – Report

Turkey halted Iranian crude purchases as of May – Report

Mubasher: Turkey halted its purchases of Iranian crude shipments as of this month, after the US sanctions waiver to the country ended, Reuters reported, citing a senior official.

The US re-instated sanctions on Tehran last November after withdrawing from a 2015 nuclear accord between Iran and six world powers.

However, Washington granted six-month waivers to eight of Iran’s oil buyers, including Turkey, India and China, under which they were allowed to import a limited volume of barrels from the sanctioned nation.

“We are not getting any oil from Iran now,” the official, adding that Ankara will continue to comply with the US demand to cease all oil imports from Iran.

The report came after Reuters reported earlier this week that no crude carriers loaded in Iran have arrived at any of the Turkish ports so far this month.

So far this month, Iranian oil shipments waned to at least 500,000 barrels per day (bpd), the news agency said, citing tanker figures and industry sources.

“We don’t believe in sanctions, but as a strategic ally we respect the US decision [and] we don’t believe isolation of Iran will be helpful,” the official said.