India Looks For Ways To Ship Iran Oil
From Wall Street Journal
India has cut back its imports of Iranian oil due to the threat of U.S. sanctions. Now, the nation is finding it tough to transport even the smaller amounts of Iranian crude it’s still buying as big European insurance companies are unable to handle the trade after the imposition of EU sanctions this month.
Officials in India, which relies on imported oil for three-quarters of its needs, say the nation can’t afford to stop importing from Iran totally and is making its own insurance arrangements.
