US ends Iran oil waiver
Washington will end a temporary waiver that covered sales of Iranian oil already at sea, a step reported as part of rising pressure tied to the Gulf crisis. (cnbctv18.com) Pakistan is simultaneously trying to keep U.S.–Iran diplomacy alive, even as President Trump met the U.S. ambassador to China amid heightened tensions ahead of a possible summit with Xi Jinping. ( ) Commentators note the blockade of the Strait of Hormuz could prompt China to weigh naval options to protect its energy shipments. (indiatoday.in)
Washington is letting a 30-day sanctions waiver for Iranian oil cargoes already at sea expire this week, closing a brief window for buyers to take delivery. (reuters.com) Two administration officials told Reuters the waiver was issued on March 20 and will lapse at midnight on April 19. It had allowed oil that was already loaded onto tankers before the new crackdown to be sold without triggering immediate penalties. (reuters.com) The change comes as the United States tightens pressure around the Strait of Hormuz, the narrow waterway between Iran and Oman that carries a large share of the world’s seaborne oil trade. United States Naval Institute News reported on April 14 that at least seven ships had reversed course after Washington announced a blockade of Iran’s coast. (usni.org) The waiver mattered because it gave refiners in Asia a short grace period while oil prices were jumping after the Gulf crisis widened. Bloomberg reported on April 15 that about 4 million barrels of Iranian oil had arrived in India just before the waiver’s expiry, the first such imports there in seven years. (bloomberg.com) Diplomacy has not stopped. Reuters reported that United States and Iranian officials held direct talks in Islamabad on April 11, the first such face-to-face meeting in more than a decade, with Pakistan acting as mediator after a fragile ceasefire. (reuters.com) Those talks ended without an agreement, but both sides left the door open to more contact. Reuters reported that the agenda included the Strait of Hormuz, Iran’s nuclear program and sanctions relief, with United States Vice President J.D. Vance and Iranian Parliamentary Speaker Mohammad Baqer Qalibaf involved in the Islamabad meeting. (reuters.com) China is part of the backdrop because it buys significant Middle East energy volumes and has warned against disrupting the waterway. China’s foreign ministry said on April 13 that a blockade of the Strait of Hormuz would run against the international community’s interests and called for calm and restraint. (reuters.com) President Donald Trump also met United States Ambassador to China David Perdue on April 14 as his administration prepared for a possible May summit with Chinese President Xi Jinping. Fox News reported that the Middle East crisis and the broader United States-China relationship were expected to be part of those discussions. (foxnews.com) Iran has condemned the maritime pressure campaign, while Washington says it is trying to choke off Tehran’s oil revenue and force new terms at the negotiating table. When the waiver ends on April 19, buyers, shippers and insurers will have one less buffer between Gulf diplomacy and the oil market. (reuters.com)
