India procuring Iranian crude, diversion of cargo not because of payment issue: Govt clarifies
The Hindu
India confirms purchasing Iranian crude amid West Asia supply disruptions, dismissing payment issues and ensuring oil security.
Albeit dismissing news reports about Iranian crude being diverted from Indian shores because of payment issues, the Ministry of Petroleum and Natural Gas (MoPNG) informed that Indian refiners are indeed purchasing Iranian crude.
“Amidst Middle East supply disruption, Indian refiners have secured their crude oil requirements, including from Iran; and there is not payment hurdle for Iranian crude imports as per some rumours being circulated,” the social media post read.
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Although the quantum has not been informed but the purchase marks a reversal from the time India had stepped away from purchasing Iranian crude following U.S. sanctions in 2019.
Further, whilst dismissing circulating media reports attributing payment issues to the diversion, the ministry underlined that companies had “full flexibility to source oil from different sources and geographies based on commercial considerations”.
The social media post said “India imports crude oil from 40+ countries, with companies having full flexibility to source oil from different sources and geographies based on commercial considerations.”
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