U.S. extends Iran oil sanction waivers to China, India, Korea

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U.S. extends Iran oil sanction waivers to China, India, Korea

WASHINGTON - The U.S. Department of State extended six-month Iran sanctions waivers on Friday to China, India, Korea and other countries in exchange for their reducing purchases of Iranian crude oil.

The State Department is required by U.S. sanctions law on Iran’s disputed nuclear program to determine whether Iran’s oil consumers have reduced their purchases.

The decision on waivers comes even after the United States and five other global powers agreed in Geneva this month to ease some sanctions on frozen funds on Iran in exchange for Tehran’s taking steps to curb its nuclear program.

“We will continue to aggressively enforce our sanctions over the next six months, as we work to determine whether there is a comprehensive solution that gives us confidence that the Iranian nuclear program is for exclusively peaceful purposes,” Secretary of State John Kerry said in a released statement.

Reuters

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