THE JOURNAL OF EXPORT CONTROLS AND SANCTIONS

Issue 80, June 2019

The end of the oil waiver: consequences for India

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  By Ameeta V. Duggal, DGS Associates https://dgsassociates.in   The world’s third-biggest oil consumer, India meets more than 80% of its oil needs through imports. Iran is its third-largest supplier after Iraq and Saudi Arabia and meets about 10% of its total needs. With the end of the waivers of the application of its sanctions, India has had to halt all oil imports from Iran effective 2 May. The Ministry of External Affairs has announced that India is ‘adequately prepared to deal with the impact of this decision…. Government will continue to work with partner nations, including with the US,...

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