US to announce more countries waived from Iran sanctions

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The United States will soon announce a list of more countries to receive waivers from US sanctions on Iran’s central bank, set to go into effect later this month, Reuters reports:

The latest round of U.S. sanctions come into effect on June 28 and aims to cut Iran’s oil revenue to pressure Tehran into halting its nuclear program, which Western powers suspect is aimed at developing nuclear arms.

The U.S. can exempt countries from sanctions if they make significant reductions to crude imports, and granted a waiver to Japan and 10 European countries in March.

The official declined to give more details on which countries would join the exemptions list, but said the U.S. and South Korea had made progress in talks.

Around two thirds of Iran’s crude exports flow to Asia, where the biggest buyers are China, Japan, India and South Korea.

 

The United States previously issued waivers to 11 European nations and Japan.