Sputnik - In 2011, when the US and other nations blocked payment channels in order to bring Iran to the negotiating table over its nuclear programme, the Reserve Bank of India facilitated payments to Iran via Turkey. US Treasury Secretary Steven Mnuchin met the Governor of India's banking regulator, Reserve Bank of India, Shaktikanta Das in Mumbai ...

MNA Iranian Ambassador to India Ali Chegeni called on the Indian government to resume importing Iranian oil, noting that sanctions against the country are imposed unilaterally by the United States not by the United Nations. India is a good friend. We are neighbors. Our history is deep-rooted. Im hopeful India will begin (purchasing oil ...

News18 - The US has ruled out giving any exemption from its punitive sanctions to countries, including India, for buying oil from Iran, saying America's maximum pressure campaign was working and the Trump administration remains "unwavering" in its tough policy on Tehran. US President Trump last month refused to give waivers to countries like India ...

Reuters - India told Iran on Tuesday it will decide on its oil imports after elections end this month, in line with its economic interests, a government source said. Irans Foreign Minister Javad Zarif held talks on the issue with his Indian counterpart Sushma Swaraj during a visit to New Delhi. India has suspended imports of Iranian oil from ...

Reuters - Only one Indian buyer of Iranian oil has taken up Saudi Arabias offer of additional oil to make up for the loss of supplies from Tehran due to U.S. sanctions, taking an extra 2 million barrels from the Kingdom for June shipment, industry sources said. Last month, Saudi Arabia approached Indian buyers offering them additional supplies to ...

Reuters - Indias oil imports from Iran fell about 57 percent year-on-year in April, according to tanker arrival data seen by Reuters, the last month when New Delhi was allowed to load Iranian oil ahead of U.S. sanctions stopping purchases of oil from the OPEC member. India, Irans top oil client after China, shipped in about 277,600 barrels per day ...

Reuters - The U.S. government will not ensure sale of its oil to India at cheaper rates as the commodity is controlled by private companies, U.S. commerce secretary Wilbur Ross said on Monday. Ross is in India to participate in a trade forum. The latest U.S. sanctions against Iran has barred Asian buyers, including India, from importing oil from ...

MNA Indian Ambassador to Tehran Gaddam Dharmendra said that his country is in talks with another bank to continue trade transactions with Iran in the face of US sanctions. Indian government is mulling over cooperation with another bank in addition to Indias UCO Bank for easing trade and economic cooperation between Islamic Republic of Iran and ...

Reuters - India is ready to deal with the impact of U.S. sanctions against Iran and will get extra supplies from other oil producing countries to compensate for loss of Iranian oil, foreign ministry spokesman Raveesh Kumar told a news conference on Thursday. India was Irans top oil client after China. However, New Delhi has stopped purchases of ...

NDTV - India has to stop importing oil from Iran from tomorrow after the US ended its waiver to friendly nations on dealing with Tehran, a move that is likely to push up fuel prices. The US in November last year scrapped a multi-nation nuclear deal with Iran and re-imposed sanctions, which also does not grant exemptions to any oil customers of Iran....

Sputnik - Analysts had predicted that the end of the sanctions waiver regime for buying oil from Iran would result in the strengthening of the US dollar. India, being a large importer of Iranian oil, is facing the heat, with a depreciating currency and a real possibility of retail inflation going up. The US threat to end waivers on sanctions against ...

AP India said Tuesday it will buy crude oil from other major oil producing countries in view of the United States decision this week to end waivers that allowed it to buy Iranian oil without facing U.S. sanctions. External Affairs Ministry spokesman Raveesh Kumar said the Indian government would continue to work with partner nations, including ...

Reuters - India hopes the U.S. will allow its allies to continue to buy some Iranian oil instead of halting the purchases altogether from May, a source familiar with U.S.-India talks said on Monday. The United States is expected to announce on Monday that buyers of Iranian oil need to end imports soon or face sanctions, a source familiar with the ...

Reuters - Indian refiners are holding back from ordering Iranian oil for loading in May pending clarity on whether Washington will extend a waiver from U.S. sanctions against the OPEC-member, four sources said. In November, U.S. President Donald Trump withdrew from the 2015 Iran nuclear deal and re-imposed broad economic sanctions. Washington,...

Reuters - India wants to keep buying Iranian oil at its current level of about 300,000 barrels per day (bpd), as it negotiates with the Washington about extending a sanctions waiver past early May, two sources in India with knowledge of the matter said. India has reduced its purchases of Iranian oil but has been in talks on extending its sanctions ...

MNA Indias Hindustan Petroleum Corp could buy 0.9 million tonnes of Iran oil in its 2018/19 financial year, said Vinod S Shenoy, the companys director of refineries. HPCL bought 0.7 million tonnes of Iranian oil from April 2018 to February 2019, Chairman M K Surana was quoted by Reuters as saying on Wednesday. Surana said the company ...

Reuters - India is in talks with the United States to extend a waiver on sanctions imposed on Irans crude oil exports, a senior Indian official said on Thursday. India, Irans second-biggest oil customer after China, has already reduced its intake of Iranian oil but has not decided whether to end purchases completely. We are talking to the U.S....

Reuters - Indias finance ministry has exempted rupee payments made to the National Iranian Oil Co (NIOC) for crude oil imports from a steep withholding tax, according to a government order reviewed by Reuters. The exemption, put in place December 28 but backdated to November 5, will allow Indian refiners to settle about $1.5 billion of outstanding ...

Reuters - India will import crude oil from Iran using a rupee-based payment mechanism, an industry source involved in discussions told Reuters on Thursday, adding that 50 percent of those payments will be used for exporting items to Tehran. Indias state-owned UCO Bank is expected to announce the payment mechanism in the next 10 days, the source ...

Reuters - Indias biggest state-owned crude oil refiner Indian Oil Corp Ltd aims to lift full volumes under its 2018/19 annual contract with Iran, a company official said on Thursday. The company has a deal to buy 180,000 barrels per day (bpd)Iranian oil this fiscal year. He said Indias overall oil imports from Iran could surpass last years level....