US reveals Iran petro penalty hit list after exempting allies
The US State Department has revealed the list of 12 countries which may be subjected to American financial sanctions for failing to cut oil imports from Iran. - The number of countries was mentioned earlier on Tuesday, as Washington announced a penalty waiver for Japan and 10 EU counties which complied with American demands and reduced their purchases. However, the names of the countries were not given. Four of the countries on America’s anger list are among top 100 buyers of Iranian crude. They are China, India, South Korea and South Africa, with the first two being the two largest buyers. Also targeted by possible financial sanctions are Indonesia, Malaysia, Pakistan, Philippines, Singapore, Sri Lanka, Taiwan and Turkey. US President Barack Obama may order banks based in those countries and involved in oil trade with Iran to be cut off America’s financial system. On the other hand, he may exempt some of them from sanctions, if US national security demands it. So America’s allies like South Korea or Pakistan may dodge repercussions.