Policy & Regulation

India to be granted waiver for US sanctions on Iranian oil

The United States has broadly agreed to grant India a waiver on sanctions for importing oil from Iran
By Staff reporter 1 November 2018 0 33141

The United States has broadly agreed to grant India a waiver on sanctions for importing oil from Iran, according to The Economic Times.

This exemption will allow India to import 1.25 mt of Iranian oil per month until March, despite the oil-related sanctions the US will reimpose on 4 November to limit Iran’s income and pressure it to negotiate a new nuclear deal.

India will reduce its oil imports from Iran in the future and will seek alternative sources.