Iran oil minister: US made 'bad mistake' in ending sanctions waivers

Iran oil minister: US made 'bad mistake' in ending sanctions waivers
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Iranian Oil Minister Bijan Zanganeh on Tuesday said that the U.S. made a "bad mistake" by ending waivers that allowed several foreign countries to buy oil from Iran without facing sanctions.

“America has made a bad mistake by politicizing oil and using it as a weapon in the fragile state of the market," Zanganeh said in a parliamentary session, according to Reuters, which cited the Islamic Republic News Agency. 

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“With all our power, we will work toward breaking America’s sanctions,” Zanganeh reportedly added. 

The White House announced Monday that President TrumpDonald John TrumpPompeo changes staff for Russia meeting after concerns raised about top negotiator's ties: report House unravels with rise of 'Les Enfants Terrible' Ben Carson: Trump is not a racist and his comments were not racist MORE will not renew the waivers, which were scheduled for renewal on May 2. With the announcement, the White House is forcing countries to stop purchasing Iranian oil or be met with sanctions.

“This decision is intended to bring Iran’s oil exports to zero, denying the regime its principal source of revenue," White House press secretary Sarah HuckabeeSarah Elizabeth SandersBiden pledges return to daily press briefings as president Sarah Sanders: I will walk out of the White House 'with my head held high' Trump directs Pentagon to develop policy allowing service academy athletes to go pro right away MORE Sanders said in a statement Monday.

Reuters noted that oil prices on Tuesday reached their highest level since November. 

The Trump administration last year reimposed sanctions on Iranian oil purchases following Trump's move to withdraw the U.S. from the Iran nuclear agreement, but it granted waivers to a number of nations.