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U.S. Exempts Japan and 10 Other Countries from Sanctions over Iran Oil
(New York Times) Steven Lee Myers - The Obama administration on Tuesday exempted Japan and 10 European nations from the prospect of biting sanctions. The sanctions, ordered by Congress to intensify diplomatic and economic pressure over Iran's nuclear activities, have put the administration in the difficult position of threatening to punish some of the U.S.' closest allies while it seeks to squeeze Iran's main source of hard currency. The latest set of sanctions - adopted despite objections from the administration - would stop American companies from doing business with any country that continues to buy Iranian oil through that country's Central Bank.