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India to stop importing oil from Iran

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India to stop importing oil from Iran

April 23, 2019

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India to stop importing oil from Iran

India will soon be stopping its import of oil from Iran post US sanction waiver to India is ended. India is the second largest importer of oil from Iran and the US had allowed India to continue it's import however the US no longer intends to allow it.

India is looking to import oil from other sources like Saudi Arabia, Kuwait, Mexico as per the officials. Although India won't be completely cutting the imports it will decrease the volume imported.

President Donald Trump's administration announced on Monday that buyers of Iranian oil must stop purchases by May 1^st or face sanctions.

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