U.S. grants India waiver from Iran oil sanctions?

The United States has granted India a waiver from sanctions imposed on Iran, which would allow Indian oil companies to continue to import about 1.25 million tonnes of oil a month till March from Tehran, Economic Times reported with reference to sources familiar with the matter.

It was added that an official announcement could come over the next few days.

The U.S. will re-impose sanctions on Iran from November 4, following U.S. President Donald Trump’s decision to withdraw from the Iran nuclear deal earlier this year.

However, India is the second biggest importer of oil from Iran, behind China, and when the U.S. previously imposed sanctions on Iran, before the Iran deal was agreed in 2015, India, China, Japan, South Korea, Turkey, and Taiwan all won exemptions.