The U.S. extends exemptions from Iran sanctions to China, India, Malaysia, South Korea,...

|By:, SA News Editor

The U.S. extends exemptions from Iran sanctions to China, India, Malaysia, South Korea, Singapore, South Africa, Sri Lanka, Turkey and Taiwan. The countries qualified for the extensions by continuing to reduce their purchases of Iranian crude. Oil shipments by Iran have almost halved in 2012, and its exports are expected to fall substantially again this month.