Iran has offered India additional oil supplies, RIA Novosti reports.
India became the biggest importer of Iranian oil in February, compensating reduction of imports to China due to EU sanctions. India buys most oil China abandoned. Iran increased oil exports to India by 37.5% in January 2012, compared with December, to 550,000 barrels daily.
India and Iran approved a payment mechanism in February, because EU sanctions are a threat to payments through Turkey. 45% of oil payments will be in rupees.
Experts say that oil exports of Iran in January 2012 did not change, compared with December 2011, and remain at 2.1 million barrels daily, despite of reduction of oil supplies for Europe, including the EU and Turkey, by 7% to 650,000 barrels daily.
Foreign ministers of 27 EU states met in Brussels on January 23 and approved the embargo on Iranian oil exports. The new package of sanctions includes a gradual ban on imports of petroleum from Iran. The embargo will come into full force on July 1. The EU also banned sales of gold, diamonds and precious metals from Iran
The US, Canada, UK and EU states banned bank operations for Iran.
