Diabytes
India-Iran oil News
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India in November last year won a six-month waiver to buy crude oil from Iran after it agreed to cut imports and escrow rupee payments.
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Under US sanctions, India can export foodgrains, medicines and medical devices to Iran.
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India is set to import at least 400,000 barrels per day (bpd) of Iranian oil in the year from April 1, with refiners looking to ramp up purchases after the sanctions targeting Tehran ended in January, industry sources familiar with the matter said.
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India is one of the handful countries that continued trade links with Iran, isolated by Western countries against its disputed nuclear programme. New Delhi is Tehran`s second biggest oil client after Beijing.
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