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US Exempts China, Singapore from Iran Sanctions

US Exempts China, Singapore from Iran Sanctions

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The United States on Thursday exempted China and Singapore from sanctions over purchases of oil from Iran, hours before restrictions would have entered into force against their banks.

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Secretary of State Hillary Clinton said in a statement that China and Singapore had “significantly reduced” their crude oil purchases from Iran, joining most major economies in receiving exemptions from the new US law.


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