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Saturday, June 30, 2012

Iran’s oil halo growing thinner: US drops China and Singapore from sanction list


In a last minute call, the White House spares Beijing and Singapore of financial penalties under Iran oil sanctions. The US says the two countries have “significantly reduced” their purchases of the Persian country’s crude.

­“Today, I’ve made the determination that two additional countries, China and Singapore, have significantly reduced their volume of crude oil purchases from Iran,” US Secretary of State Hillary Clinton said on Thursday – the day the US sanctions against Iran and its customers took legal effect.

The sanctions, which deny access to US banking systems for Tehran’s oil customers, will no longer apply to China’s and Singapore’s “financial institutions for a potentially renewable period of 180 days,” Hillary Clinton added. ..... MORE
SourceRT.com

URL: http://www.rt.com/news/usa-iran-oil-china-082/

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