The US reimposed harsh sanctions on Iran's oil sector on Monday but granted waivers to eight of Tehran's largest crude customers and signaled it would take a measured approach to avoid an oil price spike. The US extended waivers to China, India, Turkey, Taiwan, South Korea, Italy, Spain and Greece "in response to both specific circumstances and to ensure a well-supplied oil market," US Secretary of State Mike Pompeo said on Monday (IOD Nov.5'18).
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