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Govt allows state refiners to use Iran tankers, insurance for oil imports

India wants to continue buying oil from OPEC member Iran as Tehran is offering almost free shipping and an extended credit period

Reuters  |  New Delhi 

India is allowing state refiners to import Iranian oil with Tehran arranging tankers and insurance after firms including the country's top shipper Shipping Corp of India (SCI) halted voyages to Iran due to U.S. sanctions, sources said. New Delhi's attempt to keep Iranian oil flowing mirrors a step by China, where buyers are shifting nearly all their Iranian oil imports to vessels owned by National Iranian Tanker Co (NITC). The moves by the two top buyers of Iranian crude indicate that the Islamic Republic may not be fully cut off from global oil markets from November, ...

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First Published: Mon, September 03 2018. 19:52 IST
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