Why higher Iran oil exports are not roiling nuclear deal




 
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June 13th, 2014  
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Topic: Why higher Iran oil exports are not roiling nuclear deal


By Arshad Mohammed and Timothy Gardner WASHINGTON (Reuters) - At first glance, Iran appears to have exported more oil than allowed under a nuclear agreement with major powers, but rather than complaining, U.S. officials argue Tehran is skating just inside the deal's ambiguous limits. Iran's higher exports reflect its exploitation of a loophole in U.S. law that allows its customers to buy condensates, a very light oil, without fear of U.S. sanctions. Rising gifts of crude oil to Syria are not covered by the deal. The major powers and Iran resume talks in Vienna on Monday aimed at reaching a comprehensive deal by July 20 for Iran to curtail its nuclear program in exchange for the easing of economic sanctions that have crippled its economy.




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