Officials: US extends sanctions relief to China

June 4, 2013

WASHINGTON (AP) — U.S. officials say they'll extend sanction waivers to nine countries, including China and India, for reducing Iranian oil imports.

The officials say the six-month waivers will be made Wednesday. They spoke on condition of anonymity because they weren't authorized to speak for public attribution before Wednesday's announcement. Banks in Malaysia, Singapore, South Africa, South Korea, Sri Lanka, Turkey and Taiwan, also won't face U.S. penalties.

Washington has focused on Iranian oil because it's the biggest revenue provider for Iran's nuclear program.

Exports have plummeted since U.S. sanctions started last year, hurting Iran's economy.

The U.S. fears Iran may be trying to develop nuclear weapons. Iran rejects the charge.