The Indian government has asked state-owned oil firms to prepare a blueprint of alternatives sources as it considers acquiescing to US President Donald Trump's demands for ending oil imports from Iran by 4 November, government and industry officials said on 28 June.
While New Delhi says it does not recognise unilateral restrictions imposed by the US on any country and instead follows United Nations sanctions, oil firms have been asked to be prepared for channels to pay for Iranian oil getting blocked by November, following sanctions against the Persian Gulf nation, they said.
Imports from Iran, which currently is India's third largest supplier of oil after Iraq and Saudi Arabia, are likely to come down and will have to be replaced with more purchases from Saudi Arabia and Kuwait, they said. Imports from Iran after 4 November will be possible only if Iran accepts alternates like Rupee payments, the officials added.
The Trump administration is piling pressure on India, China, and other buyers to end all imports of Iranian oil by a 4 November deadline as it looks to choke the Persian Gulf state's economic lifeline with sanctions over its nuclear programme.
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