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09/15/12

U.S. extends waivers on Iran sanctions for Japan, 10 EU nations

Source: Mehr News Agency, Tehran

The United States has renewed waivers on Iran sanctions for Japan and 10 European countries, Secretary of State Hillary Clinton announced on Friday.

The renewal means banks in the 11 countries have been given a second 180 day reprieve from the threat of being cut off from the U.S. financial system under the sanctions imposed on Iran for its nuclear program, Reuters reported.

The sanctions law President Barack Obama signed in 2011 requires a review every six months of the waivers, which were given to all of Iran's major buyers throughout 2012.

In March, Japan was the first of Asia's top four buyers of Iranian crude to receive a U.S. waiver from the sanctions.

The State Department renewed exemptions on Friday to Belgium, the Czech Republic, France, Germany, Greece, Italy, the Netherlands, Poland, Spain, and the United Kingdom.

The European Union implemented a full embargo on Iranian crude and petroleum products on July 1.

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