NEW DELHI – India has decided to deal with the impact of U.S. Sanctionsagainst Iran and will get extra supplies from other oil producing countriesto compensate for loss of Iranian oil.
India was Iran’s top oil client after china. However, New Delhi has stoppedpurchases of Iranian oil from May after the United States ended six monthsof waiver that had allowed OPEC member Iran’s eight top customers includingIndia to import limited volumes.
During the previous round of sanctions, India was one of the few countriesthat continued to buy Iranian oil, although it had to reduce imports asshipping, insurance and banking channels were choked due to the Europeanand U.S. Sanctions.
