Economics
Iran Oil Waivers: How Buyers Are Lining Up After U.S. Exemptions
- Japan, S. Korea unlikely to resume purchases before February
- India set to buy 1.25m tons of Iran oil in November, December
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Armed with waivers to keep importing Iranian oil without running afoul of U.S. sanctions, some of the Islamic Republic’s top customers are preparing to buy.
The exemptions mean at least some supplies from OPEC’s third-biggest producer will keep flowing into international markets, after its exports plunged almost 40 percent since April -- the month before Washington announced the curbs. In a bid to keep customers, the state-run National Iranian Oil Co. has been offering record discounts on its crude.