President Donald J. Trump Is Working to Bring Iran’s Oil Exports to Zero

April 22, 2019

CUTTING OFF IRAN’S OIL EXPORTS: President Donald J. Trump is taking action intended to bring Iran’s oil exports to zero and deny the regime its principal source of revenue.

  • The Trump Administration has decided not to reissue Significant Reduction Exceptions (SREs) when they expire in early May.
  • This move aims to bring Iran’s oil exports to zero, denying the regime its principal source of revenue.
  • The United States, Saudi Arabia, and the United Arab Emirates, three of the world’s great energy producers, are working to ensure global oil markets remain well supplied.
    • The United States and its partners will take immediate action to ensure that supplies are made available to replace all Iranian oil removed from the market.
    • Forecasters expect global oil supply will keep pace with demand in 2019.
  • The Trump Administration is determined to expand and enforce its maximum pressure campaign against the Iranian regime.

IMPOSING MAXIMUM PRESSURE: The United States will continue to apply maximum pressure on the Iranian regime until its leaders change their destructive behavior.

  • President Trump has taken action to hold Iran accountable for the full range of its malign activities.
  • President Trump withdrew the United States from the horrible Iran nuclear deal and imposed the toughest sanctions ever placed on Iran.
    • All sanctions lifted under the Iran deal were reimposed last year.
    • These sanctions targeted critical sectors of Iran’s economy, including energy, shipping, and its financial institutions.
  • The Administration designated Iran’s Islamic Revolutionary Guard Corps (IRGC) as a Foreign Terrorist Organization, putting the private sector on notice not to conduct business with them.
  • As a result of the Administration’s actions, Iran’s currency has lost more than two-thirds of its value on the black market.
  • Foreign direct investment and business activity in Iran have fallen off as the private sector realizes the risk of doing business with Iran.
    • More than 100 companies decided to cease doing business there.

SENDING A CLEAR MESSAGE: The United States is sending a clear message to the Iranian regime that its destabilizing activities and global terrorist campaign has serious consequences.

  • The Iranian regime has long used oil revenues to support its destabilizing activities and fund terrorist proxies throughout the world.
  • Iran is the leading state sponsor of terrorism, working to finance and support terrorist organizations including al-Qa’ida, Hizballah, Hamas, the Taliban, and others.
  • Oil revenues have helped to finance their nuclear weapons and ballistic missile programs that threaten the region and the United States.
  • Leaders of the Iranian regime have committed horrific human rights violations while using oil revenues to line their own pockets instead of giving support to their own people.
  • Iran continues to undermine the stability of the region, including through hostility toward Israel and threatening freedom of navigation in the critical Persian Gulf.