Obama will not block Iranian oil sales


President Obama took another step on Wednesday toward implementing the deal Iran struck with six world powers to curb its nuclear program by pledging that the U.S. would not prevent some Iranian oil sales.

Under the preliminary agreement Tehran reached with Beijing, Berlin, London, Moscow, Paris and Washington in November 2013, the U.S. committed to allowing Iranian oil exports to flow at 2013 rates.

In a "presidential determination" issued Wednesday, Obama said he would honor that provision and not attempt to cut Iranian oil exports below that base.

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"Accordingly, my administration is not seeking further reductions of Iranian oil purchases," Obama stated. "I will continue to monitor this situation closely."

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