Asian economies grateful for reprieve on Iran oil imports

SEOUL, South Korea (AP) — Japan, South Korea and other major oil importers welcomed Tuesday the decision by the Trump administration to let them continue to import Iranian crude oil and other petroleum products despite the re-imposition of sanctions on Tehran.

The risk of excessive disruption to world markets was a key factor behind the decision to allow exemptions for some of the biggest, most oil-thirsty economies. It appeared to have paid off.

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