India hopes the U.S. will allow its allies to continue to buy some Iranian oil i...
FILE PHOTO: Gas flares from an oil production platform at the Soroush oil fields in the Persian Gulf, south of the capital Tehran, July 25, 2005. REUTERS/Raheb Homavandi
The United States is expected to announce on Monday that buyers of Iranian oil need to end imports soon or face sanctions, a source familiar with the situation told Reuters, triggering a 3 percent jump in crude prices to their highest for 2019 so far. India, Iran’s biggest oil client after China, has almost halved its Iran oil purchase since November. That was when Washington granted significant reduction exceptions from sanctions to countries, including India.
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