India will continue to buy Iranian crude in Nov; payment mechanism to be worked out: S C Garg


India will continue to buy Iranian crude in Nov; payment mechanism to be worked out: S C Garg

India will continue to buy Iranian crude to some extent and the quantity of imports will not be the same, India’s economic affairs secretary Subhash Chandra Garg said in an interview to news channel CNBC-TV18.

Garg conveyed oil minister Dharmendra Pradhan’s decision to continue oil imports from Iran. Pradhan had said in a press event earlier this week that two state-owned refiners have placed orders for importing crude oil from Iran in November.

Responding to a query on India’s decision to buy Iranian crude post November despite US sanctions, a senior petroleum ministry official said: “We need to look at our energy needs too.”

The government’s stand comes amid increased pressure from the US on major oil importing countries to cut their respective crude oil imports from Iran to zero from 4 November. Read More

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