India Plans to Reduce Oil Imports from Islamic Republic

The Wall Street Journal reported that India’s junior oil minister has said that the country plans to reduce oil imports from the Islamic Republic by eleven percent this fiscal year.

As quoted in the market news:

India, which relies on Iran for about a tenth of its crude imports, has found its access to Iranian oil complicated by insurance and bank settlement obstacles set up by the West in an effort to block Iran’s sales networks.

Click here to read the full report from The Wall Street Journal.