India’s Iran oil purchases to fade ahead of U.S. sanctions | Reuters


India’s 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, Iran’s No.2 oil client behind top buyer China, does not recognize the reimposed U.S. sanctions, but winning a waiver from the restrictions is a must for New Delhi to protect its wider exposure to the U.S. financial system.

Source: Exclusive: India’s Iran oil purchases to fade ahead of U.S. sanctions | Reuters

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