India’s crude oil imports from Iran jumped 36 per cent in October


India’s crude oil imports from Iran jumped 36 per cent in October

India’s crude oil imports from Iran jumped 36 per cent in October to 2.57 Million Tonne (MT) as compared to 1.89 MT imported in the same month last year, fresh data published by the Directorate General of Commercial Intelligence and Statistics (DGCIS), an arm of the ministry of commerce and industries, showed.

In value terms, oil imports from Iran doubled to $1.42 billion in October.

Cumulatively, for the first seven months of the current fiscal, Iranian oil imports jumped 38.41 per cent to 17.62 MT. In value terms imports jumped 100 per cent to $9.16 billion during the seven months’ period.

The jump in Iranian crude imports comes despite US sanctions on the country. US had in May walked out of the Joint Comprehensive Plan of Action, commonly known as the Iran nuclear deal, and re-imposed economic sanctions on the country. Read More

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