NEW DELHI: India imported about 5% more oil from Iran in the last fiscal year through March as companies raised purchases ahead of US sanctions against Tehran from November, preliminary tanker arrival data obtained from shipping and industry sources showed.
Despite Washington restricting India’s purchases from Tehran, refiners shipped in about 479,500 barrels per day (bpd) of Iranian oil in 2018/19 compared with about 458,000 bpd a year before, according to the data.
The United States introduced sanctions in November but gave a six-month waiver to eight nations, including India, which allowed them to import some Iranian oil.
