India to cut Iran oil imports, may not seek waiver: sources

The government has told refiners to reduce Iranian oil imports and find alternatives as New Delhi may not seek a waiver that would protect buyers of Tehran's oil from a fresh round of US sanctions, two industry sources said on Wednesday.

India is Iran's second largest crude buyer after China, importing 350,000-400,000 barrels per day (bpd) of oil worth $12 billion annually.

New Delhi has struggled to pay for the crude due to existing sanctions for more than a year, and fresh measures from the United States aimed at isolating Iran over its nuclear programme will make payment even harder.