News ID: 233769
Published: 0358 GMT November 03, 2018

India to benefit from US waiver on Iran oil buys: Minister

India to benefit from US waiver on Iran oil buys: Minister

India will benefit from the waiver the United States has granted them from Iran oil sanctions, the South Asian nation’s oil minister said on Saturday.

The United States said on Friday it will temporarily allow eight importers to keep buying Iranian oil when it reimposes sanctions on Monday, Reuters reported.

India's Petroleum and Natural Gas Minister Dharmendra Pradhan said it won the waiver largely due to a forceful campaign by Indian Prime Minister Narendra Modi. India had been vocal at international forums about rising oil prices and its impact on the economy.

"In the current geopolitically challenging scenario, India has managed to convince international leaders," Pradhan told reporters in New Delhi.

China, India, South Korea, Turkey, Italy, the United Arab Emirates and Japan have been top importers of Iran's oil, while Taiwan occasionally buys cargoes of Iranian crude but is not a major buyer.

Further details of the United States' decision on Iran sanctions will be released on Monday.

   
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