India To Continue Importing Iranian Oil Despite U.S.-Led Sanctions
From Tehran Times
India’s Minister of Petroleum and Natural Gas M. Veerappa Moily says his country will continue to import crude oil from Iran despite illegal U.S.-engineered embargoes against the Islamic Republic’s oil and financial sectors.
“As far as Iran is concerned, there are a lot of constraints, but at the same time, within the constraints, we are importing the oil from Iran,” he told reporters after a meeting with Japanese oil ministry officials in Tokyo.
In a letter to Indian Prime Minister Manmohan Singh on August 30, Moily wrote that crude oil imports from Iran will save his India over USD 8.5 billion in hard currency.
“An additional import of 11 million tons during 2013-14 would result in reduction in forex outflow by USD 8.47 billion,” the Indian oil minister said.
By posting your comment, you agree to abide by our Posting rules