BREAKING NEWS

Minister: India to buy Iran oil without US waiver

By REUTERS

JANUARY 12, 2012 15:02

NEW DELHI - India will keep doing business with Tehran and sees no reason to seek a waiver that would protect buyers of Iranian oil from a fresh round of US sanctions, a senior Indian cabinet minister said on Thursday.

"Why should we seek waiver from the US? We have done business with Iran earlier and will continue to do business," the minister, who has knowledge of the matter but did not want to be named as the matter is confidential, told Reuters.

The minister said government officials would visit Iran next week and find ways to pay for oil without contravening US financial measures designed to hinder the trade.

The comments partly echo industry sources who told Reuters on Wednesday that New Delhi may not seek a waiver from the latest US sanctions.

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