US Treasury Secretary Mnuchin: There are no blanket waivers, no grandfathering on Iran sanctions

US Treasury Secretary Steve Mnuchin was out on the wires in the last hour, saying that there are no blanket waivers and there is no grandfathering on Iran sanctions.

Additional quotes:

   •  US will consider exemptions in certain cases if countries cannot reduce Iran oil purchases to zero to meet sanctions deadline.

   •  Will discuss Iran sanctions with counterparts at G20 finance ministers' meeting this week in Buenos Aires.

   •  Allies have asked us 'how we get there and timeline' for re-imposing Iran sanctions.