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Ahead of the high-level ‘two-plus-two’ dialogue with the US, sources announced that Indian government intends to keep buying Iranian oil by using Iranian vessels and insurance. India is allowing state refiners to import Iranian oil with Tehran arranging tankers and insurance after firms including the country’s top shipper Shipping Corp of India (SCI) halted voyages […]
Ahead of the high-level ‘two-plus-two’ dialogue with the US, sources announced that Indian government intends to keep buying Iranian oil by using Iranian vessels and insurance.
India is allowing state refiners to import Iranian oil with Tehran arranging tankers and insurance after firms including the country’s top shipper Shipping Corp of India (SCI) halted voyages to Iran due to US sanctions, sources said.
New Delhi’s attempt to keep Iranian oil flowing mirrors a step by China, where buyers are shifting nearly all their Iranian oil imports to vessels owned by National Iranian Tanker Co (NITC).
The moves by the two top buyers of Iranian crude indicate that the Islamic Republic may not be fully cut off from global oil markets from November, when US sanctions against Tehran’s petroleum sector are due to start.
US defense secretary Jim Mattis and secretary of state Michael Pompeo are scheduled to hold talks with their Indian counterparts Nirmala Sitharaman and Sushma Swaraj on Thursday and it is expected that the issue of implementing sanctions against Iran would be one of the key issues on the agenda.
“We have the same situation as most Western shippers because there is no cover, so we cannot go to Iran,” an SCI official told Reuters.
New Delhi turned to the NITC fleet after most insurers and reinsurers had begun winding down services for Iran.
The shipping ministry has given refiners permission to buy Iranian oil on a CIF (cost, insurance and freight) basis,” a government source said.
India, Iran’s top oil client after China, will finalize its strategy on crude purchases from Tehran after a meeting with top US officials this week, BusinessLine reported.
این مطلب بدون برچسب می باشد.
Iran exported 130,000 tons of eggs valued at more than $140 million to the target countries in the previous Iranian calendar year (ended on March 19), the deputy agriculture minister for livestock, and poultry affairs said.
Iran’s Minister of Transport and Urban Development has announced that the government plans to connect the Chabahar port in southeastern Iran to the country’s railway network through the city of Zahedan by the end of the current Iranian year ( late March 2025).
The Bank for International Settlements (BIS) put Iran’s total deposits with foreign banks and financial institutions at more than $13 billion.
Head of the Study, Monitoring and Market Development Office of the Central Organization of Rural Cooperatives of Iran says 21 metric tons of Iranian saffron worth $207,786,281 were directly exported to 55 countries in the Iranian calendar year ending in late March.
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