Trump ends all oil import waivers and vows to drive Iran exports to zero

The administration announced it would not renew oil import waivers for eight countries (China, India, Japan, South Korea, Turkey, Taiwan, Greece, Italy), aiming to drive Iran's oil exports to zero. Secretary Pompeo stated "We will no longer grant any exemptions. We're going to zero, going to zero across the board." Iran's exports fell from approximately 2.5 million barrels per day pre-sanctions to under 1 million.