The Obama administration yesterday exempted India and six other nations from US economic sanctions after they significantly reduced their imports of Iranian oil.
Secretary of State Hillary Rodham Clinton also granted waivers to Malaysia, South Africa, Sri Lanka and Taiwan, meaning that banks and other financial institutions based there won’t be hit with penalties under US law for a renewable 180-day period.
Of major importers of Iranian oil, only China now remains without a US waiver.
Clinton said in a statement that the exemptions are proof that sanctions aimed at pressuring Iran to come clean about its nuclear program are working.
We spoke to Minister of Petroleum Industries Susil Pramjayantha regarding the decision taken by the US.
He stated that Sri Lanka now has the ability to import Iranian oil consignments that were halted.