India hopes US will extend waiver of sanctions imposed on Iranian oil

India is hopeful that the US will extend the waiver from sanctions on its oil imports from Iran when the current six-month period expires in early May following Foreign Secretary Vijay Gokhale’s talks with senior officials in Washington this week. The exemption was a key item on the agenda when Gokhale met US Secretary of State Mark Pompeo and his counterpart in the US State Department, ET has learnt. India’s optimism stems from a series of meetings following a reduction in oil imports from Iran, officials indicated.

The US imposed sanctions on Iran in November after abrogating a nuclear deal in a dispute over Tehran’s nuclear and missile ambitions, although India and other countries were exempted from the curbs. Stable oil prices are important for the Modi government as it seeks re-election in polls starting in April.