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November 30, 2013 6:52 pm

U.S. Grants Oil Sanctions Waivers to China, India

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Iranian oil tanker. Photo: WikiCommons.

Iranian oil tanker. Photo: WikiCommons.

Reuters – The U.S. State Department extended six-month Iran sanctions waivers on Friday to China, India, South Korea and other countries in exchange for their reducing purchases of Iranian crude oil earlier this year.

The waivers had been expected. Under a law governing sanctions imposed on Iran’s disputed nuclear program by the United States, the State Department is required to determine whether the Islamic Republic’s oil consumers have reduced their purchases.

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