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‘India Plays By The Rules’: Iran Minister Affirms That India Did Not Allow Russian Refinery To Use Iranian Crude
Iran ‘s Oil Minister Bijan Namdar Zanganeh. (Getty Images)
Iran’s Oil Minister, Bijan Zanganeh, has stated that India did not allow a Russian refinery, based in India, to process Iranian oil which was secured by India under an oil waiver from the United States (US), reports Reuters.
“The Indian government had obtained a waiver (to import Iranian oil) but it uses it for its state refinery. It did not allow them (Russians) to take oil,” said the minister. “Even if you own a refinery, ...it is under the sovereignty of the country where it is located.... For example, a Russian company has bought the Essar refinery in India. But it is not allowed to take oil from Iran,” he added.
The refinery in question, which was previously owned by Essar Oil, was bought by a consortium of investors, including the Russian oil major, Rosneft.
India was one of the few countries that were granted a waiver by the US to continue purchasing crude oil from Iran. The US had earlier reinstated all its pre-2015 nuclear deal sanctions on Iran, which came to force in November 2018.
Moving away from paying for oil in US Dollars, Indian and Iran, recently signed an agreement that will allow crude oil purchases by the former to be settled in Indian rupee.
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