Pradhan said that the waiver will benefit the country.
"On November 5th, the United States will reimpose sanctions that were lifted as part of the nuclear deal on Iran's energy, shipbuilding, shipping and banking sectors. A normal, stable and developing Iran is good for all concerned", Dr Gargash tweeted. From this campaign not only India but other consuming nations will be benefitted.
President Donald Trump said the United States remains open to reaching a comprehensive deal with Iran that blocks its nuclear weapons programme, just days before sanctions on the country's energy and shipping sectors kick back in.
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But the trickiest customers for the USA in its "maximum pressure" campaign are the biggest buyers, India and China.
The UK, France, Germany, Russia and China were also parties to the 2015 accord and have stuck to it, saying they will set up a new payment system to maintain business with Iran and bypass United States sanctions. Those that buy oil from Iran after the cutoff could be penalized, through fines or exclusion from the U.S. financial system.
The US also said that it would issue waivers to eight different countries to allow them to import Iranian petroleum products for a limited period without facing penalties. He did not announce which countries those are, but indicated they did not include the 28-member European Union as a bloc.
USA secretary of state Mike Pompeo said Friday the exemptions were being given "only because they have demonstrated significant reductions in their crude oil and cooperation on many other fronts and have made important moves towards getting to zero crude oil importation".
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"So it must be given concession in buying oil with Iran and this is what was required and done".
Pompeo said on Friday that the sanctions were "aimed at depriving the regime of the revenues that it uses to spread death and destruction around the world". That's for "cheese, for butter, for jam, for meat, for chicken, everything", said Reza Eidiyuon, who, like everybody else in Tehran, is anxious about the new US sanctions.
Pompeo said the U.S. would grant exemptions to eight countries that have pledged to or have already cut back on purchases of petroleum from Iran, which has long depended on crude exports to power its economy. "This massive reduction since May of past year is three to five times more than what many analysts were projecting when President Trump announced our withdrawal from the deal back in May", he said.
Going after Iran´s oil money will hit Tehran where it hurts, but it also means hitting a major pillar of the global oil market - Iran is the OPEC cartel´s third-largest producer - with major consequences for world supply.
"Iran is a formidable adversary, well practised in different techniques to keep selling oil and muddle the data, but that won't be a panacea for everything", said Rome.
Donald Trump, since breaking that deal in May, has vowed to cut off Iranian oil revenue completely, and oil exporters and tankers will be among 700 companies, individuals, vessels and aircraft that will be added to a United States sanctions blacklist on Monday.
"There's a key fact here: in this 40-year challenge, the defeated is the U.S. and the victorious is the Islamic republic".