Countries can receive waivers from the sanctions, subject to renewal after 180 days, if they show “significant reductions” in their imports of Iranian oil. Under the statute, any foreign financial institution based in a country that hasn’t received a waiver is subject to sanctions as of Thursday if it knowingly conducts a significant transaction with Iran’s central bank for the sale or purchase of oil or oil products to or from Iran. Full story
Related:
China, Singapore Exempted From U.S. Iran Oil Sanctions - Bloomberg
U.S. exempts China, Singapore from Iran sanctions - People's Daily Online
US clears China, Singapore from Iran oil sanctions - Associated Press
US exempts China, Singapore from Iran sanctions - Platts.com
U.S. Exempts Singapore and China on Iran Oil - The New York Times
