Why higher Iran oil exports are not roiling nuclear deal

June 12, 2014 9:16 PM

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Why higher Iran oil exports are not roiling nuclear deal

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.

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