The United States on Monday turned the screws harder on Iran, as well as China and other nations that import its oil, by demanding they stop buying from Tehran by May 1 or face possible sanctions. China is the world’s No 1 oil importer and a major buyer of Iranian oil. US Secretary of State Mike Pompeo's announcement that Washington would no longer issue exemptions from sanctions for the import of Iranian oil represents the Trump administration's latest move to starve Iran of its main source of revenue. Crude oil prices surged higher on fears of a supply crunch. Pompeo attempted to allay those concerns by saying that ... (full story)