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Thursday, March 15, 2012

''U.S. May Sanction India Over Level of Iran-Oil Imports''

From Bloomberg

"Obama administration officials say they are concerned India may run afoul of a new U.S. law restricting payments for Iranian oil, forcing the White House to impose sanctions on one of its most important allies in Asia.

So far this year, India is failing to cut back its purchases of Iranian oil, which may force President Barack Obama to impose penalties as early as June 28, according to several U.S. officials who spoke on condition of anonymity because of the sensitivity of the issue."

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