Senator Markey Opposes Trump Administration’s Decision to End Sanctions Waivers for Countries Importing Iranian Oil
Boston (April 22, 2019) – Senator Edward J. Markey (D-Mass.), a member of the Senate Foreign Relations Committee, expressed his opposition to the Trump administration’s decision to end U.S. sanctions waivers that had allowed certain countries to continue importing Iranian oil so long as they were making significant reductions in imports over time. Those countries include South Korea, Japan, India, Turkey, and China.
“Today’s announcement is bad for U.S. foreign policy and bad for American consumers,” said Senator Markey. “We should have stayed in the Iran deal, which was working. This administration’s tunnel vision on Iran has already cost us in terms of credibility by going back on our word. Having already harmed our relationship with Europe, the Trump administration is now choosing to punish our allies South Korea and Japan as we try to face the threat posed by North Korea.
“Now, President Trump is telling our allies not to worry, because the Saudis will ramp up oil production to compensate for any drop in Iranian supplies. That gives Saudi Arabia a green light to continue with human rights violations and the building blocks of a potential nuclear weapons program.
“It will be American consumers who are going to continue to bear the cost of the Trump administration’s foreign policy at the pump. This announcement at the start of the summer driving season could not come at a worse time for consumers.”
The Trump administration’s decision comes as U.S. oil prices are already up roughly 40 percent in 2019. Gas prices has already risen nearly 14 cents a gallon in April and more than 56 cents a gallon since the start of the year. Market analysts forecast that the Trump administration’s decision could push prices up an additional ten cents a gallon, according to reports.