Indian refineries have postponed their May orders of Iranian oil, as they await the US decision on extending the waiver from sanctions imposed on Tehran, Reuters reported, citing four sources.
“We don’t know about US thinking, whether they will allow India to buy oil or not,” said one of the sources.
Under the waiver, India could import around 300,000 barrels per day (b/d) of Iranian crude oil.
Therefore, India is waiting for the US decision on extending the waiver within 10 days and the amount allowed for importing, the sources added.
India was one of the eight nations that the US gave a six-month waiver to import oil from Iran until May, as imports reached about 9 million barrels a month.