Pompeo and Mnuchin comments on Iran sanctions

  • Aims to keep oil prices stable

  • Negotiations on Iran import sanctions ongoing

  • Expect imports of Iran oil to go down by 1m barrels

  • Sanctions to go into effect at midnight Sunday

  • SWIFT would be subject to US sanctions if it deals with sanctioned Iranian financial institutions

  • EU won't receive waiver from Iran sanctions

No real surprises here but it will be interesting to see how quickly the US wants to get those exempted countries to zero.