Skip to comments.US Exempting Japan, 10 EU Countries on Iran US president Barack Obama will exempt Japan and 10
Posted on 03/20/2012 4:59:11 PM PDT by Nachum
US officials said Tuesday that the United States will exempt Japan and 10 European Union nations from US financial sanctions because they have "significantly reduced purchases of Iranian crude oil."
The provides a respite for the 11 countries, whose banks faced being cut off from the US financial system under new US sanctions designed to pressure Iran into abandoning uranium enrichment.
The EU nations include Belgium, Britain, the Czech Republic, France, Germany, Greece, Italy, the Netherlands, Poland and Spain, according to the US State Department.
The list did not, however, include China and India, Iran's top two crude oil importers, nor US allies South Korea and Turkey, which are among the top 10 consumers of Iranian oil.
Under the 2012 National Defense Authorization Act, US President Barack Obama is empowered to impose financial sanctions on foreign banks conducting financial transactions with Iran's central bank "for the purchase of petroleum or petroleum products from Iran."
However, the law allowed Obama to grant exemptions to country's whose primary jurisdiction over a given bank has "significantly reduced" its volume of crude oil purchases from Tehran.
The US has gradually tightened sanctions because of Iran's failure to answer questions about its nuclear program, which Washington and its allies suspect is a cover for developing nuclear weapons.
(Excerpt) Read more at israelnationalnews.com ...
The list, Ping
Let me know if you would like to be on or off the ping list
Thank goodness this weenie will be gone one way or another this year.
Hmmm I wonder how much each country gave the Obama campaign to get off the list?
Well, when your usual donors have given up on your campaign, you've got to do something!
I wonder how Netanyahu reads this announcement...
Sanctions only work, and only work sometimes if everybody participates, therefore there are no sanctions IMO.
“Sanctions only work, and only work sometimes if everybody participates, therefore there are no sanctions IMO.”
The administration had no intention of even attempting to make the sanctions work. They just wanted to make it look like they were acting “tough”, knowing full well they were going to quietly allow exemptions.
"Contrary to the Republican lies, this administration has implemented tougher sanctions against the Iranian regime." [crowd cheers and swoons]