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Nov 08, 2018
2:33PM

President Donald Trump says he has given temporary exemptions to India and seven other major importers of Iranian oil

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President Donald Trump said he has given temporary exemptions to India and seven other major importers of Iranian oil. He also said that he did not want to drive oil prices up to 100 US dollar a barrel or 150 US dollar a barrel".

The US on Monday imposed the toughest ever sanctions on Iran. The sanctions cover Iran's banking and energy sectors and reinstate penalties for countries and companies in Europe, Asia and elsewhere that do not halt Iranian oil imports.

However, Secretary of State Mike Pompeo said that eight countries -- India, China, Italy, Greece, Japan, South Korea, Taiwan and Turkey -- were temporarily allowed to continue buying Iranian oil as they showed "significant reduction" in oil purchase from the Persian Gulf country.
 

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