India’s Refiners Prepare For Lifting Of U.S. Sanctions On Iran’s Oil

Major Indian state-held refiners plan to cut back on spot crude purchases later this year, expecting that the U.S. sanctions on Iran’s oil could be lifted by the end of 2021. India’s refiners halted imports from Iran several months after the previous U.S. Administration slapped sanctions on the Islamic Republic’s oil industry and withdrew from the so-called nuclear deal in 2018. The Biden Administration has been indirectly talking to Iran for a few weeks in Vienna in rounds of talks with the remaining partners of the nuclear agreement,…