Facing the threat of U.S. oil sanctions on Iran, India continued to rely on Iraq as its top oil supplier in the April-June quarter, followed by Iran and Saudi Arabia.
Petroleum Minister Dharmendra Pradhan says India bought 7.27 million metric tons of oil from Iraq, 5.67 million tons from Iran and 5.22 million tons from Saudi Arabia during the three-month period.
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India’s state-run refineries bought 9.8 million tons of Iranian oil in financial 2017-18 compared to 13.04 million tons a year earlier, a nearly 25 percent decline. India’s financial year runs from April to March.
Pradhan didn’t say what steps India is taking to meet the U.S. sanctions on Iran, which are to come into force on Nov. 4.
