India starts reducing oil import from Iran to comply with fresh US sanctions

India starts reducing oil import from Iran to comply with fresh US sanctions
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NEW DELHI: India has started reducing oil import from Iran to comply with fresh US sanctions being imposed on Tehran from November this year.

Indian refiners will cut their crude loadings from Iran by nearly half from this month.

India is Iran’s second biggest oil client behind top buyer China and it has told its refiners to prepare for a “drastic reduction or zero” imports from Iran from November.

India is also seeking a waiver from restrictions and insists that New Delhi has a special relationship with both the U.S. and Iran.

 APP

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