India persist import of Iranian oil despite US sanctions

Published on October 10, 2018

Union Petroleum Minister Dharmendra Pradhan said Indian companies will continue to import crude oil from Iran next month despite United States’ sanctions on Tehran coming into force from November 4.

Pradhan said two state refineries have made nominations to purchase Iranian oil in November. The Indian Oil Corporation and Mangalore Refinery and Petrochemicals have ordered a total 1.25 million tonnes of crude.

As per report, Sanctions against Iran will block payment routes for India through the US dollar. Indian Oil Corp Chairman Sanjiv Singh said options for paying Iran are under discussions. “Even without sanctions also, Iran had been accepting payments in rupee

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