India, Others Off The Hook For Iran Oil Import Sanctions

Law360, New York (June 11, 2012, 6:43 PM EDT) -- The efforts of India and six other countries to reduce their reliance on Iranian oil imports has saved them from sanctions for those countries that buy crude from Iran as the country pursues its nuclear program, U.S. Secretary of State Hillary Clinton said on Monday.

India, Malaysia, South Korea, South Africa, Sri Lanka, Turkey and Taiwan will not face the economic sanctions the U.S. seeks to impose on countries that buy crude oil from Iran, after the nations “significantly reduced” their oil purchases from the Middle...
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