India ditches Iran under US pressure
NEW DELHI - India has decided to deal with the impact of U.S. Sanctions against Iran and will get extra supplies from other oil producing countries to compensate for loss of Iranian oil.
India was Iran's top oil client after china. However, New Delhi has stopped purchases of Iranian oil from May after the United States ended six months of waiver that had allowed OPEC member Iran's eight top customers including India to import limited volumes.
During the previous round of sanctions, India was one of the few countries that continued to buy Iranian oil, although it had to reduce imports as shipping, insurance and banking channels were choked due to the European and U.S. Sanctions.