Sri Lanka among countries that cut Iran oil purchases: Clinton

Financial institutions of countries that traded with Iran faced the possibility of being penalized in international trade settlements by the United States, under sanctions imposed on Iran unless oil purchase volumes were cut.

Clinton said penalties would not apply for a six month period in the 2012 fiscal year, which could be renewed.

Iranian light crude has been the mainstay of raw material for Sri Lanka's state-run oil refinery, but the country has since diversified its purchases to Oman and Saudi Arabia.

Countries reduced oil purchases however could escape penalties.

"We have implemented these sanctions to support our efforts to prevent Iran from acquiring a nuclear weapon and to encourage Iran to comply with its international obligations," Clinton said.

"Today’s announcement underscores the success of our sanctions implementation.

"By reducing Iran’s oil sales, we are sending a decisive message to Iran’s leaders: until they take concrete actions to satisfy the concerns of the international community, they will continue to face increasing isolation and pressure."

She said Iran could take steps to address concerns over its nuclear program upcoming talks in Moscow.

READER COMMENT(S)

4. mayasl Jun 12

West is so scared of Iran, that's why they're trying to do something similar to what they did to Iraq. M

Sri Lankan Oil Consumers get ready to pay an even higher price as to what we are paying now.

3. Neran Jun 12

This is false according to Reuters Sri Lanka along with Malaysia, India, South Africa, Taiwan, South Korea and a few EU countries are exempt from the ban on purchasing Iranian oil.

2. Jithendra Antonio Jun 12

Its Hillary Clinton's country United States that dropped Fat Man and Little Boy to Japan and today millions in Japan have genetically developed syndromes as a result.

That time people just evaporated even without skeleton remains when Fat Man and Little Boy bombs devastated Hiroshima and Nagasaki.Internationally the largest revenues are generated by oil sales and Iraq, Iran, Libya all these leaders changed their currency payment from Dollars to Euro and then Euro to other currencies which in turn effected on a weakening dollar and a Euro...America had to find a solution so they implemented sanctions.

Obama is termed to be the weakest ruler in USA despite being a 'Big Time Talker' with inspiration. He received nobel peace prize for 'Talking'. Today the America itself is burdened with chinese investments so there's no problem if Sri Lanka also get the 'Bigger Investor' to its hands.

Hillary Clinton's campaigns were funded by 'Big Time' alleged now jailed alleged LTTE supporter such as Raj Rajaratnam and in America if people carefully analysed you would come across that many top investment banks and their executives funded obama campaign which later collapsed in 2008 and beyond. It is now a question that world population raise whether Obama (who was roaming with his widowed mother of couple of men in Asia and other countries) had never had a clear spiritually nor vision oriented guided childhood without a proper guidance of father in his youthhood is an architect of the global economic collapse.

1. Monika Jun 12

Who bombed Hiroshima?
Who killed a million people in Iraq, Afganistan, Pakistan, Vietnam etc?

Who is the bigger human rights violator Saudi or Iran? (in Iran women can vote and drive, in Saudi women have no civil rights)

Yet does the world love Saudi and hates Iran?

What has Iran actually done?