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India set to halt Iran oil imports over insurance

India set to halt Iran oil imports over insurance
# 09 March 2013 10:18 (UTC +04:00)

 

India is Iran's second-largest buyer, taking around a quarter of its oil exports worth around $1 billion a month.

 

"If cover is not available then all Indian refiners will have to halt imports from Iran or else they will have to take a huge risk," PP Upadhya, managing director of Mangalore Refinery and Petrochemicals Ltd, told Reuters in a telephone interview. MRPL is India's biggest buyer of Iran crude

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