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Wednesday, 05 June 2013 - 14:44
US extends sanction relief to SL
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The Obama administration will extend six-month sanctions exemptions to China, India, Sri lanka and six other countries for significantly reducing oil imports from Iran, as the U.S. imposed new measures against companies believed to be acting as a front network to help the Iranian government evade international financial restrictions.

Banks in Malaysia, Singapore, South Africa, South Korea, Sri Lanka, Turkey and Taiwan also will be exempted from any U.S. penalties.

The Obama administration has introduced a series of new measures over the past week to step up the pressure on Iran over its nuclear program, which Washington suspects is aimed at making weapons but Iran insists is for generating electricity and medical research.

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