India to cut Iranian oil purchases in row over gas field

PSU refiners will cut oil imports from Iran in 2017-18 by a fifth, as New Delhi takes a more assertive stance over an impasse on a giant gas field that it wants awarded to an Indian consortium, sources familiar with the matter said.

India, Iran's biggest oil buyer after China, was among a handful of countries that continued to deal with the Persian Gulf nation despite Western sanctions over Tehran's nuclear programme. However, previously close ties have been strained since the lifting of some sanctions last year as Iran adopts.....

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