Tuesday, June 12, 2012

US exempts more nations from Iran sanctions...How Generous of them

FT: The Obama administration said on Monday seven more economies would be exempt from its Iran-related sanctions that come into force at the end of the month, but left open the prospect that China could still face sanctions.

The state department said that Turkey, India, Taiwan, South Korea, Malaysia, South Africa and Sri Lanka had all reduced purchases of Iranian oil by enough to be given a six-month exemption from the sanctions, which come into operation on June 28.

Japan and 10 European countries have already been awarded an exemption. Read More