Iranian oil imports decrease over 25%

New Delhi: Oil imports from Iran showed a decline of over 25 per cent in June, but some shipments loaded last month are expected to arrive this month, government and industry officials said on Wednesday.

New Delhi: Oil imports from Iran showed a decline of over 25 per cent in June, but some shipments loaded last month are expected to arrive this month, government and industry officials said on Wednesday. After scaling imports to around 7,70,000 bpd in May, imports from Iran were down to 5,70,000 bpd in June as India considers acquiescing to Donald Trump’s demands for ending oil imports from Iran by November 4. Officials said actual shipment reaching Indian shores has shown a decline but some of the oil that was loaded in June arrived this month and has not been accounted for in the June numbers. While New Delhi says it does not recognise unilateral restrictions imposed by the US on any country and instead follows UN sanctions, oil firms have been asked to be prepared for channels to pay for Iranian oil getting blocked by November, following sanctions, they said.