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India buying Iran oil, not seeking U.S. sanctions: official DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

India buying Iran oil, not seeking U.S. sanctions: official

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India buying Iran oil, not seeking U.S. sanctions: official Empty India buying Iran oil, not seeking U.S. sanctions: official

Post by Happy Life Tue Jan 17, 2012 10:43 am

India buying Iran oil, not seeking U.S. sanctions: official


By Staff Reporter
Reuters US Online Report World News

Jan 17, 2012 08:15 EST

NEW DELHI (Reuters) - India continues to buy oil from Tehran and will not seek a waiver from the United States that would protect buyers of Iranian oil from a fresh round of sanctions, India's foreign secretary said on Tuesday.



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"We have accepted sanctions which are made by the United Nations.
Other sanctions do not apply to individual countries," Ranjan Mathai
told reporters, adding New Delhi was not seeking a waiver from Washington.
"We continue to buy oil from Iran."
India
has been struggling to pay Iran for oil imports after new U.S.
sanctions which penalize any financial institutions dealing with Iran's
central bank.
The sanctions have faced Asia's
third-largest economy with a dilemma as it strives to balance the need
to keep importing about $12 billion of Iranian crude annually without
upsetting warming ties with Washington.
(Reporting by Nidhi Verma; Editing by Krittivas Mukherjee)




Source:

Reuters US Online Report World News

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