IOC Hopes Of US Waiver To Continue Buying Oil From Iran


IOC  Hopes Of US Waiver To Continue Buying Oil From Iran

Indian Oil Corp (IOC), the country’s biggest buyer of Iranian oil, Friday hoped that the US will give waiver to the company for continuing import of oil from the Persian Gulf nation.

US sanctions on Iran’s oil buyers snap back Monday, forcing importing countries to negotiate with the US for waivers by making cuts in purchases or risk getting blocked from the US financial system.

“I can’t say there will be a waiver or no waiver, but definitely we are hopeful that we will have some sort of clearance to continue with Iran,” IOC Chairman Sanjiv Singh told reporters here. Read more

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