Turkey’s Tüpraş seeking waiver from US for Iran oil sanctions: report

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Turkey’s top refiner, Tüpraş, is in talks with US officials to obtain a waiver allowing it to keep buying Iranian oil after Washington reinstates sanctions on the Islamic Republic’s energy sector in November, Reuters reported, citing industry sources.

The United States started preparations to impose the new sanctions on Iran’s oil industry after Washington withdrew from a nuclear deal between Tehran and other global powers earlier this year but is also considering offering waivers to some allies that rely on Iranian supplies.

NATO member Turkey depends heavily on imports to meet its energy needs, and neighboring Iran has been one of its main sources of oil because of its proximity, the quality of its crude and favorable price differentials.

Turkey has already made efforts to cut its purchases ahead of the US sanctions, but would prefer to keep up some level of Iranian oil imports past November, an industry source familiar with the matter said.

“They would like to be able to continue importing three to four cargoes a month, like they did during the previous sanctions round. But if the US tells them to stop, they will oblige and work towards achieving that,” the source said.

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