US should review its decisions on Iranian oil sanctions waivers: Turkey

Turkey's Foreign Minister Mevlut Cavusoglu said on Thursday that the country is not able to diversify its oil imports easily after the United States waivers on oil purchases from Iran sanctions ended. Speaking at a news conference, Cavusoglu said Turkey's refineries are not suitable for other countries' oil, adding that Washington should review its decisions on the issue.

Iran is one of the biggest oil suppliers for Turkey, which is almost completely reliant on imports to meet its energy needs. Turkey used to import about 200,000 bpd of Iranian crude before Washington announced last year that it would pull out of the 2015 Iran nuclear deal and reimpose sanctions. Last week, Turkey's Foreign Ministry spokesman Hami Aksoy said it is trying to convince the United States to allow refiner Tupras, its biggest oil importer, to continue buying crude oil from Iran free of sanctions. The U.S. decision damages regional cooperation and Turkey's trade relations, he said.

The Trump administration surprised Iran's oil customers, including India, China and Turkey, last week by saying no waivers on the sanctions would be granted after May 1, ending six months of exceptions to the sanctions for reductions in purchases.

The decision caught several U.S. allies and Iranian oil buyers off-guard. Turkey slammed the U.S. decision to end waivers on Iranian oil sanctions, saying it would not serve regional peace and stability. China's Foreign Ministry issued a formal complaint to the United States.

The US re-imposed sanctions on Iran last November after Trump pulled out of the landmark 2015 Iran nuclear deal.