As U.S. starts oil sanctions against Iran, major buyers get waivers

© Reuters. FILE PHOTO: A general view of an oil dock is seen from a ship at the port of Kalantari in the city of Chabahar
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The United States reintroduced sanctions against Iranian oil on Monday while giving some of Washington's closest allies exemptions that allow Tehran's biggest customers, mostly in Asia, to keep buying crude for now.
Washington has restored measures lifted under a 2015 nuclear deal negotiated with Tehran by the administration of President Barack Obama.
President Donald Trump's administration added 300 new designations including Iran's oil, shipping, insurance and banking sectors, aiming to cripple Iran's main export revenues from the petroleum industry.
Despite this, Iran will continue to sell some oil as Washington said on Friday it would temporarily allow eight importers to keep buying Iranian supplies.
It did not identify who had received the exemptions, which will last up to 180 days and have been granted on the basis that importers have already slashed purchases and will further reduce them in the future.

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