Despite Sanctions, India Manages To Import Iranian Oil

The Indian government was given a conditional and temporary waiver from the Washington to continue importing Iranian oil, if it commits to reducing these imports gradually. But India has difficulties meeting its domestic demand for oil as it imports 80% of its oil.Indeed, despite the country's plan's to reduce the amount of oil imported from Iran by 20%, the Indian government has also announced that it will carry out all payments in Indian rupees. This will help the Indian government avoid potential sanctions, which would target transactions in U.S. dollars, an approach used by India during previous sanctions against Iran and Iranian oil.While imports of Iranian oil by Asian countries such as China, Japan or South Korea, have hit a five-year low in October, Indian imports of Iranian oil fell by only 0.2 percent.......................


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