U.S. still aiming to cut Iran oil sales to zero, market well-supplied: U.S. envoy for Iran

PARIS (Reuters) – The United States is still aiming to cut Iran’s oil sales to zero and does not foresee the re-imposition of oil sanctions against Tehran on Nov. 4 as having a negative impact on the market as it is well-supplied and balanced, Washington’s special envoy for Iran said on Monday.

Speaking to reporters in a conference call, Brian Hook also said Iran’s ballistic missile activities need to be deterred and that European efforts to create a special purpose vehicle for trade with Tehran would find no demand as more than 100 foreign firms had indicated they would be leaving the country.

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