India and other major energy buyers will benefit from the US waiver on Iran sanctions. The deadline for countries to completely end oil imports from Iran ends on November 4. Countries that do not stop importing oil from Iran may face sanctions. Sources tell India Today that the US will be releasing a list of countries that would be on the sanctions list and another one of the ones that will get a waiver. US has been working with countries on case-by-case basis to see what their energy requirements are and the alternate sources that could compensate for the reduction in Iranian oil imports without costing the exchequer more money. The announcement of the waiver list could be made on November 3 which would be late evening on Saturday in India.
India will continue to buy oil from Iran in near furture and it will have to substianally reduce its imports to ensure that it stays on the waiver list.
