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Economy Mar 23, 2012

India needs oil, will continue to import from Iran: oil minister

Union Minister for Petroleum and Natural Gas S Jaipal Reddy.PTI

India will continue to import oil from Iran without violating any international law, and has requested the United States and the European Union to take into account India's oil needs, Oil Minister Jaipal Reddy told reporters on Friday.

The United States exempted Japan and 10 EU nations from financial sanctions because they have significantly cut purchases of Iranian oil, but left Iran's top customers China and India exposed to the possibility of such steps.

Reuters

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