India Boosts US Oil Imports To Offset Dwindling Iran Supply

Ann Santiago
June 25, 2019

On Friday, Trump called off a bombing strike on Iranian facilities that had been planned as retaliation for the downing by Iran of a US spy drone.

McCaul's remarks come as the Trump administration is slated impose new sanctions against Iran in the wake of escalating tensions between both countries in recent days.

Mnuchin said the US will impose financial restrictions on Iran Foreign Minister Javad Zarif "later this week". Iran's foreign minister said he was in talks with leaders from several countries, including China, India and Russian Federation to establish trade "backchannels" in the hopes of side-stepping those sanctions.

The Security Council was meeting at the request of the United States after Iran last week shot down a USA surveillance drone that Tehran insists had ventured into its airspace - a claim rejected by Washington.

The leaders of the three European countries will have a chance to discuss Iran directly with Trump at the Group of 20 summit in Japan that starts Friday, and Macron said he would take that opportunity to do so.

Here is a look at the tense standoff from Iran's standpoint.

To this end, the measure "requires a report on the cost of the United States drone [downed] by Iran ... and the barriers to confiscating an amount equal to the cost from frozen Iranian funds", according to a copy of the amendment.

He said that the new action was in response to Iranian escalations in the Gulf, including the downing of a USA drone last Thursday.

The U.S. said the drone was flying over worldwide waters.

"These commanders sit atop a bureaucracy that supervises the IRGC's malicious regional activities, including its provocative ballistic missile program, harassment and sabotage of commercial vessels in global waters, and its destabilizing presence in Syria", the department said in a statement.

Iranian authorities contacted by Reuters were not immediately available to comment on Mr Trump's announcement.


The sanctions, Trump said, represent "a strong and proportionate response to Iran's increasingly provocative actions".

Trump last week abruptly canceled planned air strikes against Iran for shooting down a U.S. Navy drone on Thursday.

The U.S. has applied sanctions to almost 1,000 Iranian entities, including banks, individuals, ships and aircraft. Countries such as Russian Federation and China have continued their trade with Iran.

Mullen, who served under George W. Bush and then Barack Obama from 2007 to 2011, said politicians need to use diplomacy to prevent Iran's nuclear ambitions.

"The U.S. request for Iran is very simple", he wrote.

Ultimately, Iran wants to be treated as a major Middle Eastern power whose interests must be respected. Iran has rejected these terms.

"Sanctions imposed through the executive order that I'm about to sign will deny the Supreme Leader and the Supreme Leader's Office, and those closely affiliated with him and the office, access to key financial resources and support".

The main difference between Rouhani and the hard-liners is Rouhani's willingness to engage with the outside world to achieve Iran's goals.

Other nations stayed in the deal, which eased sanctions on Iran in exchange for curbing its nuclear program.

Tehran insists the drone was flying in its airspace, which Washington denied.

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