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Wednesday, 21 March 2012

US exempts Japan, ten EU nations from Iran oil sanctions

The US has exempted eleven nations from Iranian oil sanctions, in an acknowledgement of western allies' energy needs.

See Bloomberg's article "U.S. Exempts Japan, 10 EU Nations From Iran Oil Sanctions".

China and India, who are very significant importers of Iranian oil, were not exempted.  Gold may be used to avoid currency transactions, as reported here in January's "India to pay gold instead of US dollars for Iranian oil"

I acknowledge JSMineset for drawing my attention to this.

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