This information comes at a time when conflicts in the Middle East continue to affect the world energy market.
According to a Reuters report, this is a rare official acknowledgment that India is importing Iranian oil again, after seven years of avoiding it due to US sanctions.
Considering that India covers a large part of its energy needs through imports, including about 85% of LPG from the Middle East region, an additional problem is the closure of the Strait of Hormuz by Iran, as a reaction to the US-Israeli attacks.
India’s decision to buy oil from Iran again comes after US President Donald Trump’s administration last month gave Iran temporary permission to sell 140 million barrels of crude oil currently sitting on tankers at sea to ease pressure on the global market.
(Vijesti.ba)
