• Monday, August 15, 2022

Business

India to Continue to Purchase Crude Oil from Iran Despite US Sanctions: Sources

According to sources Indian Oil Corp will lift six million barrels of Iranian crude oil and Mangalore Refinery and Petrochemicals Ltd, three million barrels. (Photo: ADEK BERRY/AFP/Getty Images).

By: Radhakrishna N S

India will buy nine million barrels of Iranian crude oil in November, two industry sources said, indicating that the world’s third-biggest oil importer is to continue purchasing crude from the Islamic Republic despite US sanctions coming into force on November 4. “Refiners have placed November nominations to lift 1.25 million tonnes (about nine million barrels) of crude oil from Iran,” one of the sources said. Indian Oil Corp will lift six million barrels of Iranian crude oil and Mangalore Refinery and Petrochemicals Ltd to lift three million barrels, the source told Reuters. The United States plans to impose new sanctions…

You do not have access to this content. You need to subscribe.

Eastern Eye

Related Stories

Eastern Eye

Videos

Mrunal Thakur on Dhamaka, experience of working with Kartik Aaryan,…
Nushrratt Bharuccha on Chhorii, pressure of comparison with Lapachhapi, upcoming…
Abhimanyu Dassani on Meenakshi Sundareshwar, how his mom Bhagyashree reacted…