Secretary of State Hillary Clinton announced that Belgium, the Czech Republic, France, Germany, Greece, Italy, Japan, the Netherlands, Poland, Spain, and the United Kingdom have qualified for an exemption to sanctions outlined in the National Defense Authorization Act.

Each of these nations has taken significant steps to reduce its crude oil purchases from Iran. As a result, Clinton reported to Congress that the sanctions exemptions will apply to financial institutions based in these countries for a renewable period of 180 days.

The renewed sanctions reflect increased international cooperation towards reducing Iran’s oil revenues and further isolating its financial system.