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Trump Says Oil Supply Elsewhere Sufficient to Allow Cut in Iran Purchases

U.S. -- U.S. President Donald Trump speaks during an election rally in Murphysboro, Illinois, October 27, 2018
WASHINGTON, Oct 31 (Reuters)

U.S. President Donald Trump said on Wednesday in a presidential memorandum that he had determined there was sufficient supply of petroleum and petroleum products from nations other than Iran to permit a reduction in purchases from that country.

The memorandum, addressing the secretaries of State, Treasury and Energy, comes days ahead of the administration's renewed sanctions on Iranian oil exports, planned to come into effect on Nov. 5.

(Reporting by Humeyra Pamuk, Lesley Wroughton, Arshad Mohammed, Editing by Rosalba O'Brien)