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India decides to cut Iran crude imports by
11 percent
Tuesday May 15, 2012 06:04:44 PM,
IANS
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New Delhi: In the face
of US sanctions on Iran, India has decided to reduce crude oil
imports from the gulf nation by 11.1 percent to 15.5 million
tonnes during the 2012-13 fiscal, Parliament was informed Tuesday.
"The target fixed for import of crude oil from Iran for the year
2012-13 is approximately 15.5 million tonnes," Minister of State
for Petroleum and Natural Gas R.P.N. Singh told the Rajya Sabha.
Total crude oil imported from Iran by Indian companies during
2010-11 and 2011-12 was 18.50 million tonnes and 17.44 million
tonnes, respectively, Singh said in a written reply.
India imports 80 percent of its crude oil requirements of which
Iran supplies as much as 12 percent.
Iran is India's second largest oil supplier. But the US has been
rallying for reduction of crude imports to force the Islamic
republic to stop its military nuclear programme that Tehran says
is only for civilian peaceful usage
The US suspects that under the guise of its peaceful nuclear
programme, Iran is building atomic weapons.
Earlier, India had maintained that it was not possible to take any
decision on reducing imports from Iran drastically as it was
important in meeting India's growing energy needs.
Earlier this month in an interview to a television channel, US
Secretary of State Hillary Clinton had also said that the United
States will work to help India with technical assistance to reduce
its dependence on Iranian oil.
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