US sanctions on Iran to come into effect from November 4 and ahead of it India hopes to secure a waiver following a cut back on Iranian crude imports in recent months.
Meanwhile, Washington too has significantly cut Iranian oil imports and recently withdrew from a nuclear deal between Iran and couple of other global powers.
Late last week United States said those countries which will cut oil imports from Iran will be considered for waivers.
Meanwhile, Indian oil minister Dharmendra Pradhan said the country is discussing the issue of a waiver with concerned authorities.
Pradhan said, “We have to fulfill all our domestic requirements.”
Currently India is the second highest oil importer of Iran after China. However, since September oil imports have been curtailed and by November to life nine million barrels.
Joint secretary handling international cooperation in the oil ministry, Sanjay Sudhir, said the negotiation is a tough process.
Sudhir added, “We were trying to balance our relationship with the US and iran, at the same time keeping our energy and security interest in mind.”
US secretary of state Mike Pompeo said they have acknowledged some buyers of Iranian oil and it would take some time.
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