INSUBCONTINENT EXCLUSIVE:
India, Iran's biggest oil client after China, has almost halved its Iran oil purchase since November.India hopes the US will allow its
allies to continue to buy some Iranian oil instead of halting the purchases altogether from May, a source familiar with US-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 situation told Reuters, triggering a 3 per cent jump in crude prices to their highest for 2019 so far."They (the US
administration) have to take care of their allies, strategic partners
Under sanctions from the beginning, there was talk of a gradual reduction and not going to zero on one stroke," said the source, who did not
wish to be identified due to the sensitivity of the issue.India, Iran's biggest oil client after China, has almost halved its Iran oil
That was when Washington granted significant reduction exceptions (SREs) from sanctions to countries, including India."Under SREs we hope
they will give us relaxation and allow us to buy some Iranian oil," the source added.Indian refiners have not yet placed orders to lift
Iranian oil in May, pending clarity on whether Washington will extend the sanctions waiver.Get the latest election news, live updates and
election schedule for Lok Sabha Elections 2019 on TheIndianSubcontinent.com/elections
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