Source: Russia TV: US oil sanctions failed The Iranian Vice President has downplayed sanctions against the Islamic Republic, saying an embargo on Tehrans oil sector has been defeated in practice. The remark came a few days after the US exempted 11 countries from being sanctioned. *Mohammad-Reza Mir-Tajeddini told reporters that in a clear retreat, the US exempted 11 countries from oil sanctions against Iran. The hostile US policy of imposing sanctions on the Iranian oil sector is, undoubtedly, a failure. This was in response to a move by Washington, which had earlier announced that Japan and 10 member states of the European Union were going to be exempt from being penalized for importing Iranian oil. However, the Islamic Republics biggest buyers China, India and South Korea are still on the list. China alone receives about 22 per cent of Irans oil exports. Vice President Mir-Tajeddini reiterated Irans position as one of the worlds largest oil suppliers and said no sanctions could impact its economic development. The fact that Washington decided to give some of Irans buyers the go-ahead to import its oil may appear to support the VPs statements. But in reality, the EU is imposing sanctions of its own on the Islamic Republic, with an oil purchase ban being put in effect on July 1st. Japan has cut its imports by 20 per cent. So what Iran is choosing to interpret as failure may be merely a strategic move from the US. Washington and Brussels have imposed tough financial and oil sanctions against Iran since the beginning of 2012, alleging that the countrys nuclear energy program may have a military aspect. Tehran denies the allegations, noting that frequent inspections by the International Atomic Energy Agency have failed to prove any diversion the countrys nuclear program.