Login With Google
Robust plan in place to import oil: MEA
Why is it in the news?
- As the deadline for the U.S. sanction waiver for oil imports from Iran expired without an extension from the U.S., India has a “robust plan” to import oil from other countries, the Ministry of External Affairs said.
More in the news
- Last year, the U.S. re-imposed sanctions on Iran, prohibiting countries from importing oil from it, but waived these sanctions for eight countries, including India.
- That waiver has now expired and the U.S. announced last month that it would not be extending it.
- The U.S. refused to change its stance despite a last-minute call by External Affairs Ministry to U.S. Secretary of State.
- But Government sources indicated that India would be reducing its oil imports from Iran to zero.
- There were reports earlier that New Delhi may have firmed up plans to import additional oil from countries like Saudi Arabia.
Other Option:
- Oil minister in a tweet in April had said that a robust plan for an adequate supply of crude oil to Indian refineries” is in place.
- There will be additional supplies from other major oil-producing countries.
- Indian refineries are fully prepared to meet the national demand for petrol, diesel & other petroleum products, Minister said.
Source
The Hindu.