India's oil imports from Iran rise 36pct in face of U.S. bans

Japan set to resume Iranian oil imports

Japan set to resume Iranian oil imports

The decision to resume oil purchases from the third-largest exporter of the Organization of Petroleum Exporting Countries (OPEC) came four weeks after U.S. Departments of State and Treasury announced a list of eight countries that were granted a six-month exemption from the U.S. sanctions on the Iranian oil.

Zanganeh did not furnish the names of the countries, however, recent developments show that Iran is at risk of losing market share due to USA sanctions. Sales of crude will begin next week, Asgaroladi also said.

Meanwhile, Iran has resolved banking issues for oil payments with China, an Iranian official told Fars News Agency on Wednesday.

India's official figures show the country imported as much as 2.57 million tonnes of oil worth an overall of $1.42 billion from Iran over the past month.

Ohio Senators speak up in wake of GM plant closings
In doing so, though, the president repeated his frequent false claim that steel plants are opening all over the country. The company announced that it will be closing up to four plants in the USA and laying off as many as 15,000 employees.

A second phase of sanctions - targeting Iran's energy sector - came into effect on November 5, although Washington granted a 180-day reprieve to the eight largest buyers of Iranian oil, including Turkey. That's a lot less than Chinese refiners imported before, but state companies also have rights to production from fields in Iran where Chinese companies have stakes, so they will probably be getting more than that.

The figure marked an increase of 36 percent over the same period previous year when a total of 1.89 million tonnes were shipped to India from Iran's Persian Gulf ports.

Indian companies can import 1.25 million tonnes a month up to March 2019, according to media reports.

Zanganeh refused to comment on whether Iran's oil clients would continue buying crude. But, as a condition of waiver, Indian oil firms will reduce their imports significantly, the source added.

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