India and other major Iranian oil importing countries have got six months relief from reducing their import after the Islamic Republic agreed to curb parts of its disputed nuclear programme.
The US on Friday exempted some countries, including India and China, from the tough Iranian sanctions act as they continue to reduce their dependence on Iranian oil.
The United States today imposed sanctions on a Greek businessman who allegedly helped Iran evade international oil embargo.
Two officials said an announcement of the six-month extensions was expected from the State Department today.
An officer says Iran has set up a private oil export group in an attempt to bypass a European ban on buying Iranian oil.
The White House commended the European Union`s latest moves to prohibit all Iranian oil imports as part of sanctions.
US Secretary of State Hillary Clinton on Tuesday lauded the steps taken by India to reduce its dependence on Iranian oil.
Both India and China, two major buyers of Iranian oil
accounting for 12 and 22 per cent of its total export
Despite the US imposing fresh sanctions on Iran, India has made it clear that it will continue to buy Iranian oil.
China faces more challenges in its Iran policy this year as Washington and its allies move to impose tougher sanctions.
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