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US has granted waiver to India from Iran sanctions - Mr Pradhan

Gasoil News - Published on Tue, 06 Nov 2018

Image Source: DNA India
ET cited oil minister Mr Dharmendra Pradhan as saying that the US has granted waivers to eight nations including India to continue to import limited quantities of Iranian crude post 5 November and the details of the waiver will emerge eventually. US Secretary of State Mike Pompeo had on Friday said US has decided to grant temporary allotments to eight countries after the second round of sanctions targeting Iranian oil markets are in effect from 5 November. Mr Pradhan, while talking to media, said procuring a waiver from US will be beneficial for India and that PM Modi’s insistence that interest of consuming nations can not be overlooked has been recognized.

Mr Pradhan said that "In the current geo-politically challenging scenario India has managed to get its point convinced by the international leaders. A country like India will benefit from this and India's efforts will be beneficial to other consuming counties."

Mr Pompeo said that beginning 5 November, US will re-impose sanctions that were lifted as part of the nuclear deal on Iran’s energy, ship building, shipping, and banking sectors. He said that “In order to maximize the effect of the President’s pressure campaign, we have worked closely with other countries to cut off Iranian oil exports as much as possible. We expect to issue some temporary allotments to eight jurisdictions, but only because they have demonstrated significant reductions in their crude oil and cooperation on many other fronts and have made important moves towards getting to zero crude oil importation.”

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Posted By : Joykumar Irom on Tue, 06 Nov 2018
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