28 Jul '12, 7am

#peakoil India Bans Iran Oil Tankers From Delivery: India has finally agreed to follow U.S. sanctions against Ir...

India was allowing the local Mangalore Refinery and Petrochemicals Ltd (MRPL) and some other state refineries to import Iranian crude oil on cost, insurance and freight basis — wherein Tehran was to arrange for ships and insurance, and would receive no profit from the sale. It was a loophole that New Delhi was apparently comfortable enough jumping through. But within days, the government revoked the permission and MRPL, the nation’s largest importer of Iranian oil, could only land one out of four July shipments,

Full article: http://peakoil.com/consumption/india-bans-iran-oil-tanker...

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