FILE PHOTO: India's Oil Minister Dharmendra Pradhan speaks at a road show organised by the Directorate General of Hydrocarbon in Mumbai, India, October 26, 2017. REUTERS/Shailesh Andrade
The United States on Monday demanded that buyers of Iranian oil stop purchases by May 1 or face sanctions, ending six months of waivers which had allowed Iran’s eight biggest buyers, most of them in Asia, to continue to import limited volumes. “Indian refineries are fully prepared to meet the national demand for petrol, diesel and other petroleum products,” he said.
Refiners in India, the world’s third-biggest oil importer and Iran’s top oil client after China, had almost halved their Iranian oil purchases since November when petroleum sanctions went into effect. At the time, the United States granted waivers from sanctions, known as significant reduction exceptions , for six months to countries that purchased some amounts of Iranian crude, including India.
That’s the plan dopey Reuters
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