Iranian Crude Oil Imports

Crude oil imports last month dropped about 19 per cent from a year earlier to 13.68 million tonnes

This comes at a time of increasing imports from the US, which rose from 1.9 mt in 2017-18 to 6.2 mt in 2018-19. In H1FY20, India imported 5.4 mt from the US.

Iran earlier used to supply 10% of India's oil needs.

New Delhi needs a waiver to ensure its wider exposure to the US financial system is not affected

Indian refiners are currently using State Bank of India and Germany-based Europaeisch-Iranische Handelsbank AG to buy Iranian oil in euros

During the previous round of sanctions, India was one of the few countries that continued to buy Iranian oil

India's refiners currently use SBI and Germany-based Europaeisch-Iranische Handelsbank AG to buy Iranian oil in euros

The Trump administration has given buyers 180 days to wind down imports after pulling out of a landmark nuclear deal with world powers

PSU refiners to pare imports by 20%, Tehran threatens will slash discount from 80% to 60%