US renews waivers on Iranian oil for 11 countries

The United States (US) announced the third extension of 180-day waivers on oil sanctions to Japan and 10 European Union countries on Wednesday as the countries cut their crude oil purchases from Iran substantially. US Secretary of State John Kerry, in his statement, expressed the extension as "another example of the international community's commitment to convince Iran to meet its international obligations." Besides Japan, the world's third largest oil consumer, Belgium, the Czech Republic, France, Germany, Greece, Italy, the Netherlands, Poland, Spain and the United Kingdom were granted the renewals on Wednesday. US stated that the sanctions would continue unless Tehran cleared Western suspects of developing nuclear weapons by abandoning its nuclear program. "The message to the Iranian regime from the international community is clear: take concrete actions to satisfy the concerns of the international community, or face increasing isolation and pressure," said Kerry. The US embargo on Iranian crude oil has been in effect since July 1, 2012. Signed by US President Barack Obama, the sanctions aim to be imposed also on the foreign financial institutions working with Iranian Central Bank or Iran's other fiscal institutions on the "black list".