Iran crude oil purchase: SL among countries qualifying for exemptions

Staff Writer

U.S. State Department extended six-month Iran sanctions waivers to China, India, South Korea and other countries in exchange for their reducing purchases of Iranian crude oil earlier this year.

Sri Lanka, Malaysia, South Africa and Singapore which no longer purchase oil from Iran, also qualified for the exemptions. The waivers, mean that banks in the consuming countries will not face being cut off from the U.S. financial system for the next six months.

Since the beginning of the sanctions regime in 2012, all 20 of Iran’s oil customers have qualified for the periodic waivers. According to Secretary of State John Kerry the exemptions could be taken up for consideration once more after a lapse of six months.

However, Minister of Petroleum Industries Anura Priyadarshana Yapa notes that they have not recieved a clear explanation on the
exemptions being offered by the US govemment.

He noted that in addition to the US the EU has also imposed restrictions on purchasing crude oil from Iran.

Minister Anura Priyadarshana Yapa added that they have sought more information on the easing or restrictions from the US Embassy
in Colombo .