Reuters claims India's Iran oil purchases to fade ahead of US sanctions

TEHRAN, Sep. 14 (MNA) – Reuters claimed Indian refiners will cut their monthly crude loadings from Iran for September and October by nearly half from earlier this year as New Delhi works to win waivers on the oil export sanctions Washington plans to reimpose on Tehran in November.

According to Reuters, India’s loadings from Iran for this month and next will drop to less than 12 million barrels each, after purchases over April-August had been boosted in anticipation of the reductions.

India, Iran’s No.2 oil client behind top buyer China, does not recognize the reimposed US sanctions, but winning a waiver from the restrictions is a must for New Delhi to protect its wider exposure to the US financial system.

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News Code 137764

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