Earlier in the day, Bloomberg quoted a US official as saying that the eight countries being exempted from sanctions include India, Japan and South Korea.
The US has agreed to temporarily allow eight countries to continue buying Iranian oil after it reimposes crippling sanctions on Tehran on November 5, Secretary of State Mike Pompeo said on November 2, citing significant reduction in imports of oil from the Persian Gulf nation.
Earlier in the day, Bloomberg quoted a US official as saying that the eight countries being exempted from sanctions include India, Japan and South Korea.
While the US had previously wanted countries including India to completely halt oil purchases from Iran by November 4 when its full sanctions against Tehran come into force, it seems to have relented considering the havoc the move to completely take out Iranian supplies from the market would have had on prices.
India, which is the second biggest purchaser of Iranian oil after China, is willing to restrict its monthly purchase to 1.25 million tonnes or 15 million tonnes in a year (300,000 barrels per day), down from 22.6 million tonnes (452,000 barrels per day) bought in 2017-18 financial year, sources in New Delhi said.
Pompeo said, the US is to issue temporary exemption to eight “jurisdictions” from Iranian sanctions recognising their significant reduction in imports of oil from Iran.
