India’s crude oil imports from Iran declined by about 34 percent in April compared with March, deeper than expected and the first evidence of New Delhi implementing cuts in supplies from the sanctions-hit nation under annual deals that began last month, Reuters
reported Tuesday, May 8. State-run buyers are at the forefront of reductions, just as the U.S. praised steps taken by India’s refiners to back Washington’s pressure on Tehran. The U.S. has already granted waivers to sanctions for Japan and 10 European countries but has left out China and India, Iran’s biggest clients. Secretary of State Hillary Clinton said on Monday India needed to do more and said a decision on granting a waiver was around two months away.