Bigger India
India To Continue Iranian Oil Imports Post US Sanctions
Iran is India's third-largest oil supplier behind Iraq and Saudi Arabia.
In the first clear indication of India’s willingness to continue trade with Iran despite US sanctions, state refiners have contracted import of 1.25 million tonnes of crude oil from the Persian Gulf nation and is preparing to replace dollar payments with rupee trade. Top industry sources said Indian Oil Corp (IOC) and Mangalore Refinery and Petrochemicals Ltd (MRPL) have contracted 1.25 million tonnes of Iranian oil for import in November, the month when the US sanctions against Iran’s oil secto ..