October 31, 2018 / 10:27 PM / 18 days ago

Trump says oil supply elsewhere sufficient to allow cut in Iran purchases

FILE PHOTO: 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. REUTERS/Raheb Homavandi/File Photo/File Photo

WASHINGTON (Reuters) - U.S. President Donald Trump said on Wednesday in a presidential memorandum that he had determined there was sufficient supply of petroleum and petroleum products from nations other than Iran to permit a reduction in purchases from that country.

The memorandum, addressing the secretaries of State, Treasury and Energy, comes days ahead of the administration’s renewed sanctions on Iranian oil exports, planned to come into effect on Nov. 5.

Reporting by Humeyra Pamuk, Lesley Wroughton, Arshad Mohammed, Editing by Rosalba O'Brien

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