US Department of State has exempted 8 countries from sanctions on importing oil from Iran.
Wall Street Journal reported that China and India had been in the list. These two countries are major importer of Iran’s crude oil. The State Department had said that for the decreasing trend of these countries’ imports, they had been exempted from sanctions on Iran oil import. According to oil sanctions act of 2011 countries importing oil from Iran would suffer sanctions by the US. However, the same law said that countries with no other way to replace Iran’s oil, and they reduce imports of oil, they would be exempted from US sanctions. US Treasury and State Department would examine countries’ imports, and revise the list of exempted countries from sanctions on Iran’s oil every two year. The report by Wall Street Journal had it that China not only had not decreased its imports of oil from Iran but it had imported daily volume of 375,000 barrels of oil by April 2013, increasing it compared to the same date last year, but still in the list of exempted countries from sanctions. US Department of State said that during a visit to Washington by Chinese president Xi Jinping, Obama will discuss decreasing import of Iran’s oil.