India unlikely to resume Iran oil import, may talk losses with US


India unlikely to resume Iran oil import, may talk losses with US

India is unlikely to resume Iranian crude oil purchases, which stopped when exemptions to US sanctions expired on May 2, four government officials have said. This is impacting energy security because India hasn’t been able to find an alternative source that matches the quality, quantity and lucrative commercial terms of Iranian crude, the officials added on condition of anonymity.

American sanctions against Tehran have also hit India’s plans to develop Iran’s Farzad-B gas block and indirectly impeded operations at Chabahar port even though it is exempted from the restrictions, they said.

New Delhi is expected to raise the economic losses due to US sanctions when secretary of state Mike Pompeo visits India on June 24, the officials said. Read  More

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