Iran: Asian Countries

Secretary Of State Dept: Secretary of State Hillary Rodham Clinton commended the two Asian countries for "significantly" reducing the oil purchases and she announced a six-month exception for them to continue buying Iranian crude at lower levels. Eighteen other governments have received similar waivers, according to Vancouver Sun. Iran's oil exports are down about 40 per cent, while its currency has fallen sharply. European penalties coming into effect next week will further raise the economic pressure and wASHINGTON - The Obama administration on Thursday cleared China and Singapore from possible U.S. economic penalties, citing their sharp cuts in imports of Iranian oil, as an American deadline arrived for banks to stop processing petroleum transactions with Tehran. The U.S. penalties are intended to pressure Iran to prove it is not trying to develop nuclear weapons. (www.immigrantscanada.com). As reported in the news.