IRAN/OIL/SANCTIONS/STATE/TRUMP AS PRESIDENT: “The Trump administration will consider requests for waivers from economic sanctions against Iran on a ‘case-by-case’ basis, a senior State Department official said Monday [7-2-18], a step back from threats to insist on zero imports by a Nov. 4 deadline. Buyers of Iranian crude oil have been hoping for relief from U.S. sanctions in order to have more time to reduce purchases. Oil prices rose to multiyear highs last week after U.S. officials signaled the administration would act to cut Iran exports faster than expected and said all countries and companies that continued purchasing Iranian oil risked sanctions…Mr. Hook said that sanctions targeting Iran’s automotive sector and key metals exports will be reimposed on Aug. 6, while oil sanctions will follow on Nov. 4, as previously indicated by the administration. He reiterated previous statements that the U.S. aims to eventually cut Iran oil export revenue to zero. Mr. Hook said the U.S. was working with countries in Europe and Asia to discuss the way forward. He said the closest consultations were being held with France, Germany and the U.K. He declined to say which countries or companies were being considered for waivers or had requested relief.”
–Jessica Donati, “U.S. to Consider Iran Sanctions Relief on a ‘Case-by-Case’ Basis,” The Wall Street Journal, July 2, 2018 1:21 pm