India hopes for U.S. sanctions waiver after cutting Iran oil imports: officials

NEW DELHI (Reuters) - India hopes to secure a waiver from U.S. sanctions on Iran before they take effect on Nov. 4, as it had significantly cut Iranian oil imports before the deadline, officials said on Monday.

FILE PHOTO: A worker cleans a pump at a fuel station in Ahmedabad, May 14, 2018. REUTERS/Amit Dave/File Photo

The United States is imposing new sanctions on Iran’s oil industry after Washington withdrew from a nuclear deal between Tehran and other global powers.

Washington said on Friday it was considering waivers for nations that were reducing imports of Iranian oil.

The announcement, the first indication Washington was considering such waivers, followed a Reuters report that India planned to lift some Iranian oil in November although it has been cutting back on Iranian imports recent months.

India has cut back on Iranian crude imports in recent months, but plans to lift some oil in November

Indian Oil Minister Dharmendra Pradhan told reporters that New Delhi was discussing the issue of a waiver “with all the authorities concerned”.

“We have to fulfill all our domestic requirements,” Pradhan said, confirming the plan to buy some Iranian crude after U.S. sanctions kick in.

India, Iran’s No.2 oil client behind China, does not recognise the U.S. sanctions. But New Delhi needs a waiver to ensure its wider exposure to the U.S. financial system is not affected.

Oil Minister Dharmendra Pradhan speaks during an interview with Reuters in New Delhi, June 12, 2015. REUTERS/A....
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