Iran Oil

WASHINGTON (Reuters) - The Trump administration will soon issue advisories warning shippers, port officials and insurance companies against the practice of storing Iranian oil and avoiding U.S. sanctions on Iran, a senior State Department official said on Monday.

India's imports from Iran has already gone down to 1.7 million tonne in the current financial year, from 23.9 mt in 2018-19

Washington has reimposed sanctions aimed at halting all Iranian oil exports, saying it seeks to force Iran to negotiate to reach a wider deal

Jaishankar was responding to a question that Iranians were disappointed with India's decision not to buy oil from them to avoid American sanctions regime

Attacks on Sept 14 on the oil facilities of Saudi Arabia, widely blamed on Iran, have rattled West Asia and raised concerns about a broader war

"The legal process has finished and based on that the conditions for letting the oil tanker go free have been fulfilled and the oil tanker can move," says official

The store of oil has the potential to push down global prices if Chinese refiners decide to draw on it

Iran's elite Revolutionary Guards took control of the Stena Impero in the Strait of Hormuz on Friday after it collided with an Iranian fishing boat whose distress call it ignored

Iran dismisses British report; Trump vows harsher sanctions on Iran soon

Oil Prices reacted sharply after the US led world powers entered into an agreement with Iran. The economic constraints imposed on Iran by US and its allies led to a drop of 60% in crude oil output from Iran since February 2012. This move deprived the country revenue of nearly $100 billion.

Iran's Foreign Minister Javad Zarif held talks on the issue with Sushma Swaraj

The United States on Monday demanded buyers of Iranian oil stop purchases by May or face sanctions.

CAD and rupee may come under pressure

Indian Oil Corp. says it has lined up alternative suppliers since last year to hedge against the loss of crude from Iran.

The current set of waivers -- issued to China, India, Japan, South Korea, Italy, Greece, Turkey and Taiwan -- expire on May 2

In the previous round of US sanctions, India settled 45% of oil payments in rupees

China, India, Japan and South Korea last month imported about 762,000 barrels per day (bpd) from Iran, according to the data, down 56.4% from a year earlier

India's overall oil imports from Iran could surpass last year's level

We appreciate the US government has taken into account our need for energy security, said Raveesh Kumar

IOC would buy 6 million barrels of Iranian oil, while MRPL would import 3 million barrels