Japan has extended state-backed insurance to cover imports of oil from Iran, potentially allowing the country’s refiners to continue loading crude cargoes from the Middle Eastern nation, a government official told Reuters on Thursday.
South Korean oil buyers are expected to restart Iranian oil imports in late January or early February, the head of South Korea’s SK Innovation, which owns South Korea’s biggest oil refiner SK Energy, said.
India’s oil ministry has asked refiners to prepare for a ‘drastic reduction or zero’ imports of Iranian oil from November, two industry sources said, the first sign that New Delhi is responding to a push by the United States to cut trade ties with Iran.
India’s Nayara Energy – one of the country’s biggest buyers of crude oil from Iran – has unveiled a plan for a major reduction in oil imports from Iran in the wake of returning US sanctions against the Islamic Republic.
India’s Reliance Industries Ltd, owner of the world’s biggest refining complex, plans to halt oil imports from Iran, two sources familiar with the matter said, in a sign that new U.S. sanctions are forcing buyers to shun oil purchases from Tehran.
The system of sanctions against Iran is collapsing as such that in less than a week and while sanctions have not been removed entirely three European, Asian and African countries have called for oil imports from Iran.