India’s oil imports from Iran fell by 45% in January to 270,500 barrels per day oil (bpd), ship tracking data reviewed by Reuters showed, below the estimated 300,000 bpd for the month as some cargoes were delayed.
The United States introduced sanctions aimed at crippling Iran’s oil revenue-dependent economy in November but gave a six-month waiver to eight nations, including India, which allowed them to import some Iranian oil.
India is restricted to buying 1.25 million tonne per month, some 300,000 bpd. January imports from Iran were 10.4% lower than December, the tanker arrival data showed.
