Washington, June 11
The US today said it would exempt India and six other countries from financial sanctions because they have significantly cut purchases of Iranian oil. “Today I have made the determination that seven economies-India, Malaysia, Republic of Korea, South Africa, Sri Lanka, Turkey and Taiwan-have all significantly reduced their volume of crude oil purchases from Iran,” Secretary of State Hillary Clinton said in a statement.

Clinton said exemptions would also be granted to South Korea, Turkey, Malaysia, South Africa, Sri Lanka and Taiwan, which join Japan and a number of European countries already on the list of those exempted from Iran sanctions Act that kicks into force later this month. Clinton issued the statement hours before External Affairs Minister SM Krishna was to arrive in Washington to co-chair the third India-US Strategic Dialogue . — PTI