NEW DELHI – India has started reducing oil import from Iran to comply withfresh US sanctions being imposed on Tehran from November this year.
Indian refiners will cut their crude loadings from Iran by nearly half fromthis month.
India is Iran’s second biggest oil client behind top buyer China and it hastold its refiners to prepare for a “drastic reduction or zero” imports fromIran from November.
India is also seeking a waiver from restrictions and insists that New Delhihas a special relationship with both the U.S. and Iran.