India May Be Exempted From U.S. Sanctions, Hindustan Times Says

India may be exempted from U.S. sanctions because of its plans to reduce Iranian oil imports by as much as 20 percent, the Hindustan Times newspaper reported, citing unidentified government officials.

Secretary of State Hillary Clinton last week granted Japan and European Union countries six-month, renewable exemptions from new U.S. measures aimed at curbing Iran’s oil revenue that take effect June 28, crediting them with “significantly reducing” imports from the Persian Gulf nation.

To contact the reporter on this story: Pratish Narayanan in Mumbai at pnarayanan9@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

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