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Title : India Will Ignore U.S. Oil Sanctions On Iran
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India Will Ignore U.S. Oil Sanctions On Iran

An oil tanker is seen at sunset anchored off the Fos-Lavera oil hub near Marseille, France, October 5, 2017. REUTERS/Jean-Paul Pelissier/File Photo

Reuters: Exclusive: India allows state refiners to use Iran tankers, insurance for oil imports

NEW DELHI (Reuters) - India is allowing state refiners to import Iranian oil with Tehran arranging tankers and insurance after firms including the country’s top shipper Shipping Corp of India (SCI) (SCI.NS) halted voyages to Iran due to U.S. sanctions, sources said.

New Delhi’s attempt to keep Iranian oil flowing mirrors a step by China, where buyers are shifting nearly all their Iranian oil imports to vessels owned by National Iranian Tanker Co (NITC).

The moves by the two top buyers of Iranian crude indicate that the Islamic Republic may not be fully cut off from global oil markets from November, when U.S. sanctions against Tehran’s petroleum sector are due to start.

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Update #1: India Allows State Refiners To Import Iranian Oil In Iran-Owned Tankers (OilPrice.com)
Update #2: India to sidestep U.S. sanctions on Iranian oil (Washington Times)

WNU Editor: India needs the oil .... India’s Thirst For Oil Is Outpacing China (OilPrice.com).

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