IOC, MRPL placed order for 1.25 MT of crude from Iran
In an attempt to compel Iran to agree to a new accord, the US president reinstated sanctions that targeted the Iranian government’s purchase of US dollars, Iran’s trade in gold and other precious metals, and its automotive sector.
On November 4, a second batch of potentially more damaging sanctions will be re-imposed on Iran’s oil and shipping sectors as well as its central bank. The United States has asked buyers of Iranian oil to cut imports to zero starting in November.
“We will take care of them,” Trump told reporters when asked about the decision of some countries like India and China to continue to purchase oil from Iran.
Oil minister Dharmendra Pradhan on Monday said two state refiners have placed orders for importing crude oil from Iran in November. He had said that India has its own energy requirements, which it has to fulfil. Indian Oil Corp (IOC) and Mangalore Refinery and Petrochemicals (MRPL) together have placed order for 1.25 million tonnes (MT) of crude oil from Iran.
Iran is India’s thirdlargest oil supplier behind Iraq and Saudi Arabia. Of the 220.4 million metric tonnes (million MT) of crude oil imported by India in 2017-18, about 9.4 per cent was from Iran.
China is Iran’s biggest oil customer and is opposed to any unilateral sanctions on the country.