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Truth is in favor of you and me; for the truth of our enemies whom we have been serving here in the U.S.A. for over 400 years (whom we did not know to be our enemies by nature) is the truth that the Black Man must have knowledge of to be able to keep from falling into the deceiving traps that are being laid by our enemies to catch us in their way which is opposed to the way of righteous of whom we are members. ~ The Honorable Elijah Muhammad

Thursday, June 14, 2012

US exempts India (and 11 other countries) from Iran oil sanctions‎

There is considerable relief in New Delhi as US waived India from Iran-related sanctions, Indian officials were quick to point out that it was a domestic decision that had come straight from the White House.With the exception of China six other countries have also been exempted from sanctions because they had significantly reduced their crude oil imports from Iran. Malaysia, Republic of Korea, South Africa, Sri Lanka, Turkey and Taiwan now also join the 11 countries that have been exempted.

India has cut crude oil imports from Iran to 17.44 million tons in the fiscal year ending March 31, 2012, from 18.50 million tons in last financial year. The target fixed for import of crude oil from Iran for 2012-13 is about 15.5 million tones.Over the past few months New Delhi was in a fix regarding it's payments to oil from Iran and was doing so in Euros via a bank in Turkey. Insurance companies will no longer have to face issues regarding extending cover to ships ferrying oil from Iran.

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