Obama guts Iranian sanctions, exempts India, South Korea, 5 other nations

Secretary of State Hillary Clinton said Monday that the United States will exempt India, South Korea and five other nations from sanctions targeting Iranian oil exports because the nations have “significantly reduced their volume of crude oil purchases from Iran.”

Clinton said the countries, for at least 180 days, won’t be hit with sanctions that target banks in nations that purchase Iranian oil.

She announced the waivers — which are also being granted to Malaysia, South Africa, Sri Lanka, Turkey and Taiwan — in a statement that claimed progress in efforts to isolate Iran over its nuclear program.

“We have implemented these sanctions to support our efforts to prevent Iran from acquiring a nuclear weapon and to encourage Iran to comply with its international obligations. Today’s announcement underscores the success of our sanctions implementation,” Clinton said.

“By reducing Iran’s oil sales, we are sending a decisive message to Iran’s leaders: until they take concrete actions to satisfy the concerns of the international community, they will continue to face increasing isolation and pressure,” she said in announcing the waiver from sanctions that go into effect June 28.

Read more at the Hill.com HERE.