Iran Waivers Waved Off

You’ll recall our not-so-fun selloff last year which was kicked off by crude rolling over. Looks like the catalyst of that rollover has been reversed.

China, India, Japan, South Korea, Italy, Greece, Turkey and Taiwan to continue importing Iranian crude without being subjected to retaliatory U.S. sanctions. With the end of the waivers, the buyers face being cut off from the American financial system if they continue purchases.