Indian refiners eye Iranian crude oil as US-Iran nuclear talks progress

Plans to resume crude oil imports had been shattered in the wake of multiple airstrikes between Israel and Iran in April last year

With nuclear negotiations between the United States and Iran advancing to an unprecedented fifth round, Indian refiners are keenly watching the discussions amid hopes that a thaw in ties between the nations may possibly lift sanctions on Iran and allow crude oil imports from the country.

 

Despite global crude prices inching downwards, volatility in both prices and volumes remain a major concern for India, and major importers in the country are ready to pull out large crude volumes from Iran provided the sanctions are lifted, officials said. The issue of resuming crude imports came up at recent bilateral meetings during