Exclusive: India's Reliance to halt oil imports from Iran from Oct-Nov: sources
NEW DELHI (Reuters) - India’s Reliance Industries Ltd, owner of the world’s biggest refining complex, is planning to halt oil imports from Iran, two sources familiar with the matter said, in a first sign that new U.S. sanctions are forcing buyers to shun oil purchases from Tehran.
Labourers work behind an advertisement of Reliance Industries Limited at a construction site in Mumbai, March 2, 2016. REUTERS/Shailesh Andrade/Files
Reliance’s call to quit buying oil from Iran followed Washington’s decision to abandon the 2015 nuclear accord which has raised the threat of sanctions on entities dealing with Iran, after “wind-down” periods of three to six months expire.