US Exempts 10 Countries From Sanctions for Importing Oil From Iran

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US maintaining pressure on the Iranian regime

Determined to maintain pressure on the Iranian regime until it fully addresses concerns about its nuclear program, the United States has renewed waivers on Iranian oil sanctions for ten major oil importers of the Middle East country.

The waivers were granted to major oil importers China, India, Malaysia, Republic of Korea, Singapore, South Africa, Sri Lanka, Turkey, and Taiwan.

Reports say despite dipping sales from overseas, Iran remains one of the world’s largest oil producers and its exports bring in tens of billions of dollars in revenue for the country.

oily
Iran manufactures 6070% of its industrial equipment domestically, including refineries, oil tankers, drilling rigs, offshore platforms and exploration instruments.

On pressuring Iran

US Secretary of State John Kerry issued a statement in Washington DC, saying the United States and the international community stand shoulder to shoulder in maintaining pressure on the Iranian regime until it fully addresses concerns about its nuclear program.

He announced that China, India, Malaysia, Republic of Korea, Singapore, South Africa, Sri Lanka, Turkey, and Taiwan have again qualified for an exception to sanctions outlined in section 1245 of the National Defense Authorization Act (NDAA) for Fiscal Year 2012, based on additional significant reductions in the volume of their crude oil purchases from Iran or for reducing those purchases to zero and remaining there.

“As a result, I will report to the Congress that exceptions to sanctions pursuant to Section 1245 of the NDAA for certain transactions will apply to the financial institutions based in these jurisdictions for a potentially renewable period of 180 days.” – Secretary Kerry

On convincing Iran to meet its international obligations

According to Secretary Kerry, the new determination is another example of the international community’s strong and steady commitment to convince Iran to meet its international obligations.

He reports that a total of 20 countries and economies have continued to significantly reduce the volume of their crude oil purchases from Iran or have completely eliminated such purchases.

He adds that this determination takes place against the backdrop of other recent actions the Administration has taken to increase pressure on Iran, including the issuance of a new Executive Order on June 3.

“The message to the Iranian regime from the international community is clear: take concrete actions to satisfy the concerns of the international community, or face increasing isolation and pressure.” – Secretary Kerry

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Abadan Oil Refinery, Catalitic Facilities.

In March, the United States has granted Japan and 10 European Union countries exemptions to Iranian sanctions for significant reductions in the volume of crude oil they purchased from Iran.

10 European Union countries particularly Belgium, the Czech Republic, France, Germany, Greece, Italy, Netherlands, Poland, Spain, and the United Kingdom have also qualified for a renewal of the NDAA exemption because they have not purchased Iranian oil since July 1, 2012, pursuant to a decision made by European Union in January 2012.

20 Countries Curb Volume of Crude Oil Purchases From Iran

With its commitment to maintain pressure on the Iranian regime until it fully addresses concerns about its nuclear program, the United States of America has reported that a total of 20 countries and economies have continued to significantly reduce the volume of their crude oil purchases from Iran.

China, India, Malaysia, Republic of Korea, Singapore, South Africa, Sri Lanka, Turkey, and Taiwan have again qualified for an exemption to sanctions outlined in Section 1245 of the National Defense Authorization Act (NDAA) for Fiscal Year 2012, based on additional reductions in the volume of their crude oil purchases from Iran.

According to the latest U.S. Energy Information Administration report to Congress, Iran’s oil production fell by one million barrels per day in September and October 2012, compared to the same period in 2011.

In June 2011, the United States of America imposed several sanctions on Iran. The United States imposed sanctions on Tidewater Middle East Company, an operator of Iranian ports owned by the Islamic Revolutionary Guard Corps (IRGC) that has links to Iranian proliferation activities.

The United States has also imposed sanctions against Iran Air, which was designated for providing material support and services to the IRGC and Iran’s Ministry of Defense and Armed Forces Logistics (MODAFL), and also has facilitated proliferation-related activities.

The European Union also imposed sanctions against Iran. The EU bans imports of Iranian crude oil and petroleum products, freeze the assets of the Iranian central bank, and takes additional action against Iran’s energy, financial, and transport sectors.

Mina Fabulous follows the news, especially what is going on in the US State Department. Mina turns State Department waffle into plain English. Mina Fabulous is the pen name of Carmen Avalino, the NewsBlaze production editor. When she isn’t preparing stories for NewsBlaze writers, she writes stories, but to separate her editing and writing identities, she uses the name given by her family and friends.