WASHINGTON (Reuters) – The United States will exempt India, South Korea and five other countries from financial sanctions because they have significantly cut purchases of Iranian oil, two congressional aides told Reuters on Monday.
One aide said Turkey, South Africa, Taiwan, Malaysia, and Sri Lanka would also be exempted from the sanctions.
The Obama administration is expected to announce the decision later on Monday. It means banks in the countries will be given a reprieve from the threat of being cut off from the U.S. financial system under new sanctions designed to pressure Iran over its nuclear program.
(Reporting By Susan Cornwell; Editing by Sandra Maler)
Firstpost encourages open discussion and debate, but please adhere to the rules below, before posting. Comments that are found to be in violation of any one or more of the guidelines will be automatically deleted:
Personal attacks/name calling will not be tolerated. This applies to comments directed at the author, other commenters and other politicians/public figures
Please do not post comments that target a specific community, caste, nationality or religion.
While you do not have to use your real name, any commenters using any Firstpost writer's name will be deleted, and the commenter banned from participating in any future discussions.
Comments will be moderated for abusive and offensive language.
