India cutting oil imports from Iran, says US House think-tank news
08 May 2012

India has significantly reduced its import of Iranian oil from 16 per cent in 2008 to 10 per cent now, a US Congressional report has said.

"Since 2008, India has reduced its imports of Iranian oil by volume and as a percentage of total oil imports," said the latest report of the Congressional Research Service (CRS) released in Washington today.

The 80-page report by CRS, an independent research wing of the US Congress, said that Indian leaders have agreed to further reduce dependence on Iranian oil, says PTI.
The report comes even as US secretary of state Hillary Clinton discussed the issue with Prime Minister Manmohan Singh and other senior ministers today, the last day of her India visit.

Iran is India's second-largest oil supplier, supplying about 11 per cent of the total oil consumption.

"Publicly, Indian leaders have not pledged further significant reductions but press and industry accounts say that India plans further reductions along the lines of those negotiated in early 2012 by Japan," the report said.

"Indian officials say that more drastic reductions would require significant investment to switch over refineries that handle Iranian crude, and will take time," it said.

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India cutting oil imports from Iran, says US House think-tank