The Trump administration significantly ramped up the economic pressure on Iran Monday when it announced it will no longer grant waivers for a number of countries to import oil from the Islamic republic.

The White House said the action is intended to bring Iran’s oil exports to “zero” and remove a main source of revenue for the regime.

“President Donald J. Trump has decided not to reissue Significant Reduction Exceptions (SREs) when they expire in early May,” the White House said in a statement.

The US ​along with Saudi Arabia and the United Arab Emirates “are committed to ensuring that global oil markets remain adequately supplied. We have agreed to take timely action to assure that global demand is met as all Iranian oil is removed from the market​,” the statement said. ​

​The sanction waivers will affect Japan, South Korea, Turkey, China and India.

The president later tweeted that Saudi Arabia and members of OPEC will make up the difference.

“Saudi Arabia and others in OPEC will more than make up the Oil Flow difference in our now Full Sanctions on Iranian Oil,” Trump said in the posting. “Iran is being given VERY BAD advice by @JohnKerry and people who helped him lead the U.S. into the very bad Iran Nuclear Deal. Big violation of Logan Act?”

Kerry, President Barack Obama’s secretary of state, was instrumental in brokering deal with a number of global partners, including France, Britain, China, Russia and the European Union.

The Trump administration said it was taking the action to increase economic pressure on Iran to stop the regime from carrying out operations that destabilize the region and jeopardize the US and its allies.

​”​The President’s decision to eliminate all SREs follows the designation of the Islamic Revolutionary Guard Corps as a Foreign Terrorist Organization, demonstrating the United States commitment to disrupting Iran’s terror network and changing the regime’s malign behavior​,” the White House statement said, adding, “We welcome the support of our friends and allies for this effort.​”​

​The US granted waivers to eight nations to import Iranian oil after the Trump administration pulled out of the 2015 nuclear deal with Iran.

​The waivers were intended to give them time to find alternate energy sources and to prevent a sudden ​shortage on the global oil markets.

​Since then, Italy, Greece and Taiwan have stopped importing oil from Iran. ​

With Post wires