Exemptions explained: Knowns and unknowns of US Iran oil sanction waivers

The United States on Monday re-imposed sanctions against Iran's oil exports to punish Tehran for its involvement in several Middle Eastern conflicts. Washington had been pushing governments to cut imports of Iranian oil to zero.

But, fearing a price spike, it granted Iran's biggest buyerper centna, India, South Korea, Japan, Italy, Greece, Taiwan and Turkey - sanctions waivers. That will allow the eight, which account for about 75 percent of all Iran's oil exports, according to trade data, to import at least some oil.

This article is no longer available in our repository.

There could be multiple reasons for this.