India looking at impact of US sanctions on import of oil from Iran, says Minister

India looking at impact of US sanctions on import of oil from Iran, says Minister

India looking at impact of US sanctions on import of oil from Iran, says Minister

The Union Minister of Petroleum & Natural Gas, Mr Dharmendra Pradhan, has said that India has taken note of the re-imposition of US sanctions on Iran in wake of the US pullout from the Joint Comprehensive Plan of Action on May 8, 2018.

Crude oil price fluctuation is a frequent market phenomenon and the price of crude oil is determined by many factors, including geopolitical situations and demand and supply in the global market, he told Parliament this week.

Manjula

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