Armed with waivers to keep importing Iranian oil without running afoul of U.S. sanctions, some of the Islamic Republic\u2019s top customers are preparing to buy. The exemptions mean at least some supplies from OPEC\u2019s third-biggest producer will keep flowing into international markets, after Iran\u2019s exports plunged by almost 40 percent since April - the month before Washington announced the curbs. Almost all major buyers of Iran\u2019s oil had negotiated with the U.S. for the waivers, arguing that cutting purchases to zero would affect their energy industries and boost fuel costs. U.S. Secretary of State Michael Pompeo has defended the exemptions and said the Trump administration\u2019s campaign to pressure Iran has already reduced exports by over 1 million barrels a day and they\u2019ll continue to shrink. A summary of plans by some of Iran\u2019s biggest oil customers and what they may buy under the waivers is set out below. This story will be updated as new information becomes available. The exemptions have been granted for 180 days, and will be reviewed toward the end of the period. South Korea Waiver: Up to 200,000 barrels a day of condensate Purchases before sanctions: 300,000 barrels a day (condensate) in 2017 While the Asian country was the third-biggest importer of Iranian oil, it was the first major buyer to cut purchases to zero as the U.S. prepared to impose sanctions. It\u2019s now allowed to buy as much as 200,000 barrels a day, though actual imports may not be that high. Purchases must be limited to cargoes of condensate, a type of ultra-light oil that\u2019s critical for South Korea because many of the nation\u2019s plants are geared to process it. The country bought about 300,000 barrels a day of South Pars condensate from Iran in 2017. The government is said to be in discussion with companies to decide how to split the import volume. They\u2019ll maintain a won-based payment system with Iran, making deposits into local escrow accounts in Industrial Bank of Korea and Woori Bank. The money won\u2019t directly go to Iran, which can only use it to buy food, medicine or other non-sanctioned goods from its customers. India Waiver: Up to 300,000 b\/d Purchases before sanctions: 560,000 b\/d in Jan.-Oct. 2018 The South Asian nation was one of the most vocal negotiators for an exemption from the U.S., as the government faced protests over rising fuel costs before national elections next year. Under the exemptions, it will be allowed to import as much as 300,000 barrels a day. That\u2019s under Iran\u2019s average daily exports to the nation of about 560,000 barrels this year, and almost 450,000 barrels in 2017, shipping data compiled by Bloomberg show. Indian refiners are expected to buy about 9 million barrels of oil for loading in November from Iran. They too will make payments into a local escrow account for the crude supply. China Waiver: 360,000 b\/d Purchases before sanctions: 658,000 b\/d in Jan.-Sept. 2018 The biggest buyer of Iran\u2019s crude is allowed to import 360,000 barrels a day under the exemptions, according to people with knowledge of the matter. That doesn\u2019t include oil produced by projects in the Islamic Republic in which Chinese companies have equity. While China had bought about 658,000 barrels a day over the first nine months of this year, the government was said to have told at least two state oil companies to avoid purchasing the producer\u2019s oil before the sanctions went into effect. That decision preceded an upcoming meeting between President Xi Jinping and U.S. counterpart Donald Trump and coincided with flaring trade tensions between the countries. Chinese ship owners had also stopped hauling Iranian oil. Japan Waiver: TBC Purchases before sanctions: About 160,000 b\/d in Jan.-Sept. 2018 The nation\u2019s refiners are likely to restart imports of Iranian oil now that it\u2019s one of the eight recipients of exemptions, Minister of Economy, Trade and Industry Hiroshige Seko told reporters on Tuesday. JXTG Holdings Inc., the country\u2019s biggest refiner, echoed that view, saying it may resume purchases from the Persian Gulf state. However, the company didn\u2019t elaborate on how much it could buy. Japanese processors halted purchases of Iranian crude in October under U.S. pressure. Japan cut shipments in order to get the waiver, Finance Minister Taro Aso said on Tuesday. Taiwan Waiver: TBC Purchases before sanctions: About 16,000 b\/d in Jan.-Aug. 2018 The chairman of Formosa Petrochemical Corp., Taiwan\u2019s only publicly traded oil refiner, didn\u2019t seem in too much of a rush to buy Iranian oil even though the island got a waiver. \u201cWe don\u2019t dare to sign any more contracts to buy Iranian crude oil after President Trump\u2019s threat,\u201d Chen Bao-lang said on Tuesday. \u201cBut it\u2019s not an issue for us, whether Taiwan got an exemption or not. It\u2019s very easy to find alternatives.\u201d Taiwan has been weaning itself off the Islamic Republic\u2019s crude for the past 10 years. In 2003, Iran\u2019s share of imports peaked at around 18 percent. So far this year, the Persian Gulf state made up just under 2 percent.