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Jun 13, 2018 5:41 PM
NEW DELHI: India’s oil imports from Iran surged to about 705,000 barrels per day (bpd) in May, their highest level since October 2016, according to data from shipping and industry sources, despite the threats of fresh US sanctions.
From June India’s oil imports from Iran could drop because at least two refiners — accounting for about 35 percent of Indian refining capacity of around 5 million bpd — are preparing to curb purchases under pressure from the US sanctions.