Commodities & Energy

Reuters exclusively reports India preparing for cut in oil imports from Iran

Reuters exclusively reports India preparing for cut in oil imports from Iran

India’s oil ministry has asked refiners to prepare for a ‘drastic reduction or zero’ imports of Iranian oil from November, Reuters exclusively reported. According to two industry sources, this is the first sign that New Delhi is responding to a push by the United States to cut trade ties with Iran. While a State Department official has said that Washington wants Iranian oil buyers to halt imports from November, U.S. Ambassador to the United Nations Nikki Haley has told Indian Prime Minister Narendra Modi to lessen dependence on Iranian oil.