29 Mar 2024
Saturday 15 September 2018 - 10:30
Story Code : 319555

Reuters claims India's Iran oil purchases to fade ahead of US sanctions


MNA Reuters claimed Indian refiners will cut their monthly crude loadings from Iran for September and October by nearly half from earlier this year as New Delhi works to win waivers on the oil export sanctions Washington plans to reimpose on Tehran in November.







According to Reuters,Indias loadings from Iran for this month and next will drop to less than 12 million barrels each, after purchases over April-August had been boosted in anticipation of the reductions.

India, Irans No.2 oil client behind top buyer China, does not recognize the reimposed USsanctions, but winning a waiver from the restrictions is a must for New Delhi to protect its wider exposure to the USfinancial system.


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