India’s oil imports from Iran fell 34.2 percent in
April from March, the Times of India reported today. The report bolsters
India’s case for the renewal of a waiver from US sanctions on Tehran due to
expire next month. The US has already granted fresh waivers to Japan and 10
European countries but has so far left out China and India, Iran's biggest
clients. (The Times of India, 22 May)
Compared to April 2012, Indian imports dropped 56.5 per cent to 117,300
barrels per day (bpd) now. Additionally, the Indian refiners are still
struggling to insure cargoes from Iran. India is replacing Iranian crude with
shipments from Venezuela, Iraq and Oman.
File photo: Iran’s Kharq Oil Terminal (Getty Images)
File photo: Iran’s Kharq Oil Terminal (Getty Images)
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