The Trump administration will sharply accelerate its goal of driving Iran’s oil exports to zero, ending sanctions exemptions that it previously granted to some of the Islamic Republic’s biggest customers.
“President Donald J. Trump has decided not to reissue Significant Reduction Exceptions (SREs) when they expire in early May,” the White House said in a statement. “This decision is intended to bring Iran’s oil exports to zero, denying the regime its principal source of revenue.”
Israeli Prime Minister Benjamin Netanyahu said Monday that the decision “is of great importance for increasing pressure on the Iranian terrorist regime,” according to the Associated Press.
“We stand with the United States’ determination against Iranian aggression and this is the right way to stop it,” he added.