In The News


U.S. Renews Exemptions From Iran Sanctions

The Obama administration on Friday, December 7 reissued waivers that exempt nine countries, including China, India and Turkey, from fully complying with U.S. sanctions targeting Iran’s oil exports, as the U.S. attempts to maintain international pressure on Tehran’s finances, The Wall Street Journal reported. Secretary of State Hillary Clinton said Washington granted the exemptions to these countries for reducing their purchases of Iranian oil over the past six months, thereby helping force Tehran to cut its total oil production by one million barrels a day in September and October from a year earlier. The other countries granted waivers were Malaysia, South Korea, Singapore, South Africa, Sri Lanka and Taiwan. U.S. and European officials said they believe Tehran is losing around $15 billion every quarter in lost oil sales.