The Iranian oil industry.
NEW DELHI, Nov 9 — new Delhi is exploring the possibility of continuing the procurement of crude oil from Iran after the US decision to temporarily exempt a number of countries, including India, from the “oil” sanctions, said Friday the official representative of the Indian foreign Ministry Ravish Kumar.
“We welcome and appreciate the fact that the US government took into consideration our needs for energy security. India is the largest buyer of crude oil from Iran, and it is very important to our security in the energy sector. We study the details of the exceptions of the USA (for India),” said Kumar at a press briefing.
He stated that he could not disclose the details of the agreement with the United States, on which India will continue to import Iranian crude oil. The diplomat also declined to comment on the future of payment mechanism with Iran, inviting journalists “to go to the relevant ministries and departments”.