A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Persian Gulf, Iran, July 25, 2005. (Photo: REUTERS/Raheb Homavandi)

Sigal Mandelker, US Treasury Under Secretary for Terrorism and Financial Intelligence, said that there will be no waivers of any kind for Iranian oil. Mandelker said Iranian oil sales have taken a serious nose dive because of US pressure. Iran’s crude oil exports were slashed by more than 80% due to re-imposed sanctions by the United States after President Donald Trump exited Iran’s 2015 nuclear deal with world powers. US sanctions are meant to force Tehran to accept stricter limits on its nuclear activity, curb its ballistic missile program, and end its support for proxy forces throughout the Middle East.