US not to extend exemptions to any country buying Iranian oil beyond May 2

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The US has decided to end exemptions from sanctions for countries still buying oil from Iran. In a statement, White House said that five countries - India, China, Japan, South Korea and Turkey will no longer be exempt from US sanctions if they continue to import oil from Iran after their waivers end on May 2.

After the announcement, US Secretary of State Mike Pompeo told reporters that there are no oil waivers that extend beyond that period, adding that there will be no grace period for those economies to comply. Iran has denounced US sanctions on its oil sector as illegal. (AIR NEWS)

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