The US sanctions cost the Iranian regime an estimated loss of $10 billion, US Secretary of State Mike Pompeo said during a press conference on Monday.
He said that Saudi Arabia and the United Arab Emirates “have agreed to take timely action to assure that global demand is met as all Iranian oil is removed from the market,” presumably by increasing their oil production.
“The decision is intended to bring Iranian oil exports to zero, denying the regime its principal source of revenue,” he added.
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