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New Delhi: Using the one-month window provided by a temporary US sanctions waiver, Indian refiners purchased Iranian oil and settled payments in Chinese yuan, people aware of the development said on Friday. Iran insists on payment in Chinese yuan for oil to bypass US-led financial sanctions that restrict its access to the dollar-dominated global banking…
The Ministry of petroleum and Natural Gas on Saturday dismissed reports suggesting that an Iranian crude oil shipment meant for India had been rerouted to China due to payment-related hurdles, asserting that such claims are incorrect.Clarifying the situation, the ministry said, “The news reports and social media posts of an Iranian crude cargo being diverted…
NEW DELHI: A US-sanctioned tanker carrying Iranian crude oil rerouted mid-voyage from India to China, with payment-related issues appearing to be the main reason behind the change in declared destination.The Aframax tanker Ping Shun, built in 2002 and sanctioned by the US in 2025, had earlier indicated Vadinar in Gujarat as its destination. If the…
NEW DELHI: A US-sanctioned tanker carrying Iranian crude oil has altered its course mid-voyage, dropping India as its destination and rerouting to China, in a move that underscores ongoing challenges in resuming oil trade with Iran.The Aframax tanker Ping Shun, which had been signalling Vadinar in Gujarat earlier this week, is now indicating Dongying in…
