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US eases some sanctions on Iran, including oil

Source: Reuters - Mon, 20 Jan 2014 16:05 GMT
Author: Reuters
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WASHINGTON, Jan 20 (Reuters) - The United States on Monday eased some sanctions on Iran, pausing efforts to reduce Iranian crude oil exports, as part of a nuclear deal between Tehran and world powers that went into effect.

The Treasury Department said that now that Iran has fulfilled its initial nuclear commitments under the deal, "the administration has taken the necessary steps to pause efforts to further reduce Iranian crude oil exports."

This will allow the six current customers of Iranian oil to maintain their purchases at current reduced levels for the six-month duration of an interim nuclear deal between Iran and world powers, the Treasury Department said.

The United States also took steps to suspend sanctions on non-U.S. people engaged in transactions related to Iran's petrochemical exports, as well as certain trade in gold and precious metals with Iran and provision of goods and services to Iran's automotive sector.

(Reporting By Jeff Mason and Steve Holland)

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