NEW DELHI – India finally ditches Iran over United States pressure.
India isn’t planning to buy any Iranian oil in November over US sanctionspressure.
India is joining other Asian buyers such as South Korea and Japan that havealready halted imports from the Persian Gulf state before Americanrestrictions take effect in early November. It’s unclear if China, theworld’s biggest oil importer as well as Iran’s top customer, will persistwith purchases.
Indian Oil Corp. and Bharat Petroleum Corp., the country’s two largeststate-owned refiners, haven’t asked for any Iranian cargoes for loading inNovember, according to officials at the companies. Nayara Energy alsodoesn’t plan any purchases, said an industry executive. Mangalore Refineryand Petrochemicals Ltd. hasn’t made any nominations for that month, but maydo so later, a company official said.
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The companies are the four largest buyers of Iranian oil in India,accounting for almost all of the country’s imports from the Islamicrepublic. Final decisions on purchases aren’t due until early October, sothe refiners could still change their minds. The officials and industryexecutive asked not to be identified because of internal policies.
