Iranian oil minister Bijan Zanganeh on Wednesday, said India has refused to allow Russian-owned refinery of India from buying Iranian crude oil, which had received under the waivers, because of the United States sanctions.
While in an interview, responding to a question over why Iran didn’t by any refineries overseas, Zanganeh said that a large investment over this were needed, and under the jurisdiction of country – host country, the refineries would come.
According to news reports, Iranian oil minister said, “Even if you own a refinery … it is under the sovereignty of the country where it is located … For example, a Russian company has bought the Essar refinery in India. But it is not allowed to take oil from Iran.”
Zanganeh further added saying, “The Indian government had obtained a waiver (to import Iranian oil) but it uses it for its state refinery. It did not allow them (Russians) to take oil.”
The Russian oil Rosneft funded the UCP and the Swiss commodities trader Trafigura has bought Essar Oil’s largest refinery a 3,500 fuel stations with infrastructure of about $12.9 billion in the last year 2017.
According to news reports, the US President Donald Trump has in May, pulled the US out from its multilateral nuclear deal with the country Iran and has in last month, reimposed sanctions over Iran’s crude oil industry.
In the fear of crude oil price spike, the Washington has granted India, China, Turkey, Greece, Taiwan, South Korea, Japan and Italy – Iran’s crude oil biggest buyers, the sanctions waivers.