Saudi, Iraq and UAE may fill in Iran gap as US ends sanctions waiver

India’s crude oil imports from Iran during 2018-19 increased by 4.4 per cent to 23.6 million tonnes (mt), compared to 22.6 mt during the previous financial year. This is likely to be replaced in 2019-20 by oil imports from countries like Saudi Arabia, Iraq, and the United Arab Emirates. With the US ending exemptions on Iran sanctions, an oil-marketing company official indicated the country was unlikely to sign a new term deal with Iran immediately, while it might increase imports from a diversified basket including Saudi Arabia. However, New Delhi on Tuesday indicated India was in .....

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