Publish dateFriday 8 March 2019 - 02:33
Story Code : 180987
India says seeks US waiver to maintain current oil import from Iran
India has said that it plans to maintain Iran oil import at the current level and is negotiating with the US to secure an extended exemption from US sanctions targeting Iran’s energy sector.
AVA- An exclusive Reuters report quoted two Indian sources with knowledge of the matter as saying on Thursday that New Delhi seeks to maintain its crude shipments from Iran at its current level of about 300,000 barrels per day (bpd).
The sources added that India is trying to ensure renewal of the current waiver, which is set to expire this May.
The US left a multilateral nuclear agreement with Iran, officially known as the Joint Comprehensive Plan of Action (JCPOA), last May and re-imposed nuclear-related sanctions that had been lifted under the deal, including those on Iran's oil sales.  Washington, however, granted waivers to Iran's major customers, namely China, India, Japan, South Korea, Taiwan, Turkey, Italy, and Greece, on condition that they cut their crude imports from Iran. Washington is applying pressure on the major recipients of Iran’s crude to reduce the country’s oil exports to “zero” through the bans.
One of the Indian sources said talks with Washington on extending the waiver had slowed due to the US government shutdown that extended through January.
“Talks have now resumed and India wants to get clarity before general elections scheduled in May,” Reuters cited the source as saying.
Iran is currently India's seventh biggest oil supplier.
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