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The Indian Ministry of Oil has asked refineries to prepare for a "drastic or zero" reduction of Iranian oil imports from November, according to two industry sources, the first sign that New Delhi meets to one the pressure exerted by the United States Government to break off trade links with Iran.
India stated that it did not recognize the unilateral restrictions imposed by the United States and that it was applying UN sanctions. But industrial sources said that India, which is Iran's biggest oil buyer after China, will be forced to take steps to protect its exposure to the US financial system.
The Indian Ministry of Petroleum held a meeting with refiners (19659002) "(India) called for refineries to be prepared for any eventuality, as the situation is still evolving, Indian Minister of Petroleum Dharmendra Pradhan said to reporters in Mumbai that the country would respect its interests while deciding oil imports.
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