India To Cut Iran Oil Imports

<?xml version="1.0" encoding="UTF-8"?><root available-locales="en_US," default-locale="en_US"><static-content language-id="en_US"><![CDATA[<p>The government has told refiners to reduce Iranian oil imports and find alternatives as New Delhi may not seek a waiver that would protect buyers of Tehran's oil from a fresh round of U.S. sanctions, two industry sources said on Wednesday.<br><br>India is Iran's second largest crude buyer after China, importing 350,000-400,000 barrels per day (bpd) of oil worth Rs 62,040 crore annually.<br><br>New Delhi has struggled to pay for the crude due to existing sanctions for more than a year, and fresh measures from the United States aimed at isolating Iran over its nuclear programme will make payment even harder.<br><br>(Reuters)</p>