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India cuts Iranian oil imports in June ahead of U.S. sanctions

Reuters  |  NEW DELHI 

By Nidhi Verma and Sai Sachin RavikumarNEW DELHI (Reuters) - Indian refiners cut imports of Iranian oil last month as they started weaning their plants off crude from the country to avoid sanctions by the United States that are set to take effect in November.India's monthly oil imports from Iran declined to 592,800 barrels per day (bpd) in June, down 16 percent from May, according to data from industry and shipping sources.The United States in May said it would reimpose the sanctions after withdrawing from a 2015 agreement with Iran, Russia, China, France, Germany, and Britain, where Tehran ...

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First Published: Wed, July 11 2018. 15:46 IST