US waives Iran sanctions for China, India, 7 others

After granting waivers to Japan, 10 EU countries, Obama administration gives 180-day waiver on Iran sanctions to 9 more countries; Clinton to Tehran: Cooperate with P5+1 or face increasing isolation, pressure.

December 7, 2012 22:41
1 minute read.
An oil drilling rig [illustrative]

An oil drilling rig 311. (photo credit: Andrea De Silva / Reuters)

The United States granted 180-day waivers on Iran sanctions to China, India and seven other countries on Friday in exchange for those economies cutting purchases of oil from the Islamic Republic.

US President Barack Obama's administration is renewing waivers for all of Iran's major oil buyers, after granting them to Japan and 10 countries in the European Union in September.

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The sanctions aim to choke funding to Iran's nuclear program, which the West suspects is enriching uranium to levels that could be used in weapons. Tehran says the program is for civilian purposes.

Secretary of State Hillary Clinton said she would also granted the waivers, known as "exceptions" to South Korea, South Africa, Turkey, Sri Lanka, Malaysia, Singapore and Taiwan, the aide said.

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"Iran’s oil production fell by one million barrels per day in September and October 2012, compared to the same period in 2011," said Clinton. "This has reduced Iran’s export volumes and oil revenues, which fund not only the nuclear program but its support for terror and destabilizing actions in the region."

Clinton added: "The message to the Iranian regime from the international community is clear: take concrete actions to satisfy the concerns of the international community through negotiations with the P5+1, or face increasing isolation and pressure." staff contributed to this report

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