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India and the United States figured out how to buy Iranian oil but circumvent sanctions

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India and the United States figured out how to buy Iranian oil but circumvent sanctions
November 02
09:00 2018

India and the United States have developed the main conditions under which India can buy Iranian oil, avoiding the sanctions. They will be introduced in November.

India has decided to reduce imports from Iran by one third in the 2018-2019 fiscal year, which ends on 31 March. An official confirmation will appear the other day.

The States want to impose sanctions on Iran no later than November 4. They will focus on the fuel and energy sphere and operations of the Central Bank. Earlier, the principled position of the White House was to force the world community to completely reject imports from Iran.

John Bolton said in this regard: “Many countries simply cannot reduce imports to zero. We want to put maximum pressure on Iran, but we aren’t interested in destroying relationship with the allies.”

At the moment, experts and ministers cannot say exactly how the sanctions will affect Iran and other countries. It is expected that some US partners may completely get out of limitation.

The pressure will depend not only on America and Iran, but also on importers. Thus, the Asian region may continue to buy Iranian oil, ignoring the sanctions. Europe, in turn, is going to develop financial mechanisms that will help circumvent sanctions.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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