US to extend waivers on Iran sanctions for 11 countries

March 13, 2013 20:41

WASHINGTON - The United States is expected to renew waivers on Iran sanctions for Japan and 10 European countries as soon as Wednesday in exchange for their reducing purchases of the OPEC nation's crude oil, US government sources said.

A renewal from the State Department would mean banks in the 11 countries have been given a third consecutive 180-day reprieve from the threat of being cut off from the US financial system under the sanctions designed to slash funding to Iran's disputed nuclear program."We expect all those countries to receive exceptions based on continued significant reductions or based on the fact certain countries are already at zero on imports," one congressional aide said.

The comments were confirmed by a second congressional source.

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