Pompeo Says the U.S. Remains Committed to Reducing Iran's Oil Exports to 'Zero'

The U.S. Secretary of State, Mike Pompeo, speaking to executives of major oil companies and several oil ministers, stated that the U.S. remains committed to completely cutting Iran's oil exports. Pompeo urged oil companies and countries worldwide to support the Trump administration in promoting foreign policies, particularly in Asia and Europe, and punishing what he described as 'bad actors.' According to Reuters, on March 11, during a meeting with executives and oil ministers from various countries in Houston, Texas, Pompeo emphasized that the Trump administration is still seeking to 'cut Iran's oil exports': 'As soon as market conditions allow, we remain committed to bringing Iran's oil exports to zero.' The Iranian government claims that cutting its oil exports will not be possible. Eshaq Jahangiri, the first vice president of Iran, stated, 'The U.S. plots to prevent Iran's oil exports have failed.' Recently, the U.S. has established new agencies to increase financial intelligence regarding Iran and 'enhance ways to confront' Tehran. In recent months, the U.S. has imposed severe sanctions on two major oil-producing countries, namely Iran and Venezuela. The Trump administration has accused Tehran of 'supporting terrorism,' 'destabilizing activities,' developing ballistic missiles, and other issues, and has withdrawn from the nuclear agreement established during Barack Obama's presidency. Tehran has described the accusation of supporting terrorism as 'unfounded,' denied interference in other countries' affairs, and stated that its missile program is 'defensive' and will continue. The U.S. considers Nicolás Maduro's government in Venezuela 'illegitimate,' has supported the opposition, recognized the interim presidency of Juan Guaidó, the opposition leader, and called for presidential elections. Maduro has accused the U.S. of seeking a pretext for military intervention in his country and has rejected the holding of presidential elections. According to estimates and assessments from the U.S. Energy Information Administration, Venezuela ranks first among oil-rich countries, with Iran following in fourth place after Saudi Arabia and Canada. In another part of his remarks, Pompeo stated that Washington will use all its resources and capacities to confront the current situation in Venezuela. Venezuela, facing a widespread economic crisis, has been the scene of a new wave of anti-government protests for weeks, while widespread power outages have exacerbated the crises and continue. The U.S. and Maduro's opponents hold his government responsible for the power outages, while Maduro accuses the United States of 'sabotage.' The U.S. Secretary of State has stated that U.S. oil and gas exports are increasing, which will assist Washington in advancing its policies.