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India May Get Fresh US Waiver On Business With Iran

India is likely to soon get a fresh waiver from the sanctions imposed on doing business with Iran, with the US indicating on Friday that India had made "tremendous progress" in reducing imports of oil from the Persian nation, reports said.

Addressing the media persons in New Delhi, the US Under Secretary of State for Political Affairs Wendy Sherman said, "I think India has made tremendous progress in reducing the level of its importation of Iranian oil. India has long been a leader in non-proliferation, stood side by side with all of us in the international community to say that Iran should not acquire a nuclear weapon."

"That decision will be made shortly and all of the data is certainly pointing in a positive direction," she said.

Her indication of a third waiver comes against the backdrop of India's moves to reduce Iranian crude purchases to less than 13 million tonnes in the current fiscal year from 18.1 million tonnes last fiscal.

"We greatly appreciate all of the leadership that India has provided, including their imposition of sanctions," Sherman said.

India, along with some other countries such as China and Japan, have cut their oil imports from Iran to secure waivers. This enables them to continue imports of oil to some quantity without facing a backlash from the US.

The sanctions imposed by the US on Iran in view of its controversial nuclear programme prohibit any country from engaging them in the field of commerce.

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