Report: India increases Iran crude oil imports by 36%

Iranian President Hassan Rouhani (L) shake hands with Indian Prime Minister Narendra Modi before a meeting at Hyderabad house in New Delhi on 17 February, 2018 [Money Sharma/AFP/Getty Images]

India has increased the volume of crude oil imports from Iran by 36 per cent to reach 2.57 million tonnes in October compared to 1.89 million tonnes imported in the same month last year.

A report released by the Directorate General of Commercial Intelligence and Statistics (DGCIS) said the value of oil imports from Iran during October reached $1.42 billion.

The report added that India had imported a majority of its crude oil from Iraq.

READ: India to keep buying Iranian oil despite US sanctions

Meanwhile, the volume of India’s imports of Saudi crude oil declined by 13 per cent to reach 3.05 million tonnes.

India is the second largest importer of Iranian oil after China, importing 17.62 million tonnes of oil between April and October of this year.

The US has temporarily exempted Turkey, China, India, North Korea, Italy, Greece, Taiwan, and Japan from the ban it imposed on countries purchasing Iranian oil.

Iran Deal – Cartoon [Sabaaneh/MiddleEastMonitor]

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