As of January 2014, the successful conclusion and implementation of an interim diplomatic agreement restricting Iranian nuclear development, negotiated between Iran and major world powers in Geneva, has led to the release of some of Iran's frozen overseas assets as well as a partial lifting of sanctions previously placed upon Iranian trade in automotive parts, petrochemicals, and precious metals. The United States government has also pledged to continue renewing the exemptions to oil sanctions currently enjoyed by states such as India and South Korea, key customers of the Iranian oil sector. Restrictions placed upon the insurance against loss of Iranian seagoing vessels have also been waived at the completion of the 2013 agreements in Geneva.