The Trump administration has been going back and forth over how hard it plans on pushing countries to cut their imports of Iranian oil to zero. After softening the tone earlier this month, the U.S. government appears to be going back to its hardline on sanctions, which threatens to shut in the bulk of Iranian supply. The U.S. has rejected requests from a group of ministers from Germany, France, the UK to provide exemptions to sanctions on Iran for certain industries. The intention was to allow European companies to engage in some business with Iran. Washington rejected the overture so it can apply “maximum pressure” on Tehran. Iran has said that it would only continue to participate in the 2015 nuclear accord so long as the European Union can somehow guarantee the benefits promised under the deal. U.S. sanctions will make Europe’s task exceedingly difficult, if not impossible. The […]