India to continue purchase of crude from Iran despite of US sanctions
Headlines : Global chemical price

Published on November 22, 2018

Two major state owned refineries will continue to purchase crude from Iran . The companies have placed an order of 1.25million tomes of crude to be imported from Iran despite of sanctions from US. "India is continuing with its relationship with both its key energy partners Iran and the US," a second source said. Indian refiners imported around 10 million barrels of Iranian oil in October, and its November shipments are expected to be lower. India, Iran’s top client after China, has close diplomatic ties with Iran, where it is building a strategic port called Chabahar that is expected to be operational by 2019. At the same time, India is closely working with the United States to further its strategic interests. It is still early to say how India will settle its trade with Iran. And India may further consider paying Iran for crude with the rupee currency.

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