India, China, six other countries get US ‘waivers’ on oil import from Iran

India, China, six other countries get US ‘waivers’ on oil import from Iran

Washington/New Delhi, Nov6: The United States on Monday announced special "temporary waiver" for India and seven other countries on oil import from Iran but said it would continue to exert pressure on Tehran.

The announcement was made by the US Secretary of State Mike Pompeo. The eight countries who will get temporary waivers besides India are - China, Italy, Greece, Japan, South Korea, Taiwan and Turkey.

Sources said India could continue to buy about 1.25 million tonnes of oil a month until the end of the financial year 2018-19. Iran ships most of its oil exports to Asia including India, Turkey and Europe.

"We have decided to issue temporary allotments to a handful of countries due to specific circumstances. The US will be granting these exemptions to China, India, Italy, Greece, Japan, South Korea, Taiwan and Turkey," reports quoted Mr Pompeo as saying.

The United States had in last few months urged these countries to bring down their oil purchase to zero from Iran.

China remains the largest importer of oil from Iran.

"Iranian regime can either do 180 degree turn from its course of action and act like normal country or see its economy crumble. Hope new agreement with Iran's possible but until it makes changes in 12 ways I listed in May, we will be relentless in exerting pressure on it," Mr Pompeo said.

International watchers say the President Donald Trump seeks to cripple Iran’s oil-dependent economy and force it to give up the much talked about nuclear ambitions and its ballistic missile programme as well the alleged support for militant proxies in Syria, Yemen and Lebanon. (UNI)