The White House declared the decision not to reissue the waivers on Iranian oil after they expire in May. Washington additionally stressed that the decision "is intended to bring Iran's oil exports to zero", ruining its vital source of revenue, ONA reports citing the statement released by White House.
"President Donald J. Trump has decided not to reissue Significant Reduction Exceptions (SREs) when they expire in early May. This decision is intended to bring Iran's oil exports to zero, denying the regime its principal source of revenue," the statement said.
"The United States, Saudi Arabia, and the United Arab Emirates, three of the world's great energy producers, along with our friends and allies, are committed to ensuring that global oil markets remain adequately supplied", the statement said.