India has granted permits to its oil refiners to import Iranian crude
after July 1 using Iranian oil tankers insured by Iranian companies, Reuters
reported today. India has received waiver from U.S. sanctions to import 200,000
bpd from Iran. The upcoming EU sanctions, however, would prevent international
insurance companies to insure shipments of crude oil from Iran. Today’s action
by the Indian government, accepting Iranian companies to insure the shipments,
allows Indian refiners to continue importing Iranian crude. India received
waiver from U.S. sanctions after cutting its oil imports from Iran by 20 percent.
Source: Reuters, 25
June 2012
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