India can continue to import oil from Iran due to the US-China Trade War.
Due to the trade war between the US and China, India can get a discount to buy oil from Iran. It may be that even after US sanctions have been imposed on November 4, India has been importing crude oil from Iran. Indeed, China’s Oil Importer Unipec has stopped US shipments. It is being said that China is preparing to import import duty on US crude oil. Although the list released by China last week, crude oil was not included. Experts say that this was done because some ships were on the way and their deal with refiners had already been done. Other considerations are being made that China wants to buy oil in affordable prices by bargaining with the US.
People associated with the industry say that both conditions are beneficial for India. China is the largest oil importer in Asia and also has a large customer of Iran. India is the second largest importer of oil from Iran. According to the officials of refining companies, if China does not buy oil from the US, its big importer will survive. In such a way, India can increase import of 5-6 per cent. In such a situation, India will have an opportunity to make its condition with the United States and its restrictions may be considered.
He said, “Using this same bargain against America, China can continue to buy oil from Iran. This means unless Iran’s oil remains in the market, prices will remain limited. This will also reduce the impact of restrictions. ‘ From 2010 to 2011 Iran was India’s largest oil supplier after Saudi Arabia. But after the sanctions imposed by the US, it went to seventh place.
