Saturday, May 23, 2015Saturday, May 23, 2015

US extends waivers on Iran sanctions to China and India

Published on Dec 8, 2012 7:24 AM

WASHINGTON (REUTERS) - The United States (US) granted 180-day waivers on Iran sanctions to China, India and a number of other countries on Friday in exchange for their cutting purchases of oil from the Islamic Republic.

President Barack Obama's administration has now renewed waivers for all 20 of Iran's major oil buyers, after granting them to Japan and 10 European Union countries in September.

Friday's action was the second renewal for all 20 after Mr Obama signed the sanctions into law a year ago.

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

Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!