India Plans To Buy Oil From Iran: India can buy oil from Iran, America has given temporary relaxation in sanctions due to rising prices of crude oil.

New Delhi. America has temporarily relaxed the sanctions imposed on Iran to curb the rising prices of crude oil due to the ongoing war in the Middle East. After this decision of America, India can now buy oil from Iran. Indian oil companies are planning to buy Iranian oil, although they are waiting for orders from the Indian government for this. Earlier also India used to buy oil from Iran but due to US sanctions on Iran, Indian refineries had stopped taking Iranian oil.

Amidst the global crisis regarding energy supply, India is looking for new options to meet its energy needs, so if it were to buy oil from Iran, it would be a good news. According to Reuters report, the US administration has given exemption on oil purchases from Iran for 30 days. In such a situation, three Indian refineries have shown interest in buying Iranian oil. Earlier, India had also booked a large quantity of oil from Russia. Recently, the Indian Foreign Ministry had issued a statement saying that India has kept all options open to ensure supply of gas and oil to its people and energy will be supplied from whichever country is possible.

Apart from India, other refineries in Asia are also investigating whether they can buy Iranian oil. Let us tell you that to stop Iran’s nuclear program, America, Israel and some other countries are imposing various types of sanctions on it. Due to which many countries had to stop buying oil from Iran. After these sanctions, China became the largest buyer of oil from Iran due to availability of oil at cheap prices.

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