Only one Indian buyer of Iranian oil has taken up Saudi Arabia’s offer of additional oil to make up for the loss of supplies from Tehran due to US sanctions, taking an extra 2 million barrels from the Kingdom for June shipment, industry sources said.
Last month, Saudi Arabia approached Indian buyers offering them additional supplies to compensate for loss of Iranian oil after the United States threatened to sanction entities buying oil from Tehran, the sources said.
The United States had imposed new sanctions on Iran in November last year, but gave a six-month waiver to eight countries, including India, which allowed them to import some Iranian oil.
