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Montevideo, May 23rd 2024 - 16:23 UTC

Tag: US punitive sanctions

  • Tuesday, November 6th 2018 - 08:44 UTC

    Oil market cautious as US punitive sanctions on Iran become effective

    Trump on Monday said he wants to impose sanctions on Iran’s oil gradually, citing concerns about shocking energy markets and causing global price spikes.

    Oil prices were mixed on Monday after a steep five-day fall, as the United States formally imposed punitive sanctions on Iran but granted eight countries temporary waivers allowing them to keep buying oil from the Islamic Republic. The sanctions are part of U.S. President Donald Trump’s effort to curb Iran’s missile and nuclear programs and diminish its influence in the Middle East.