India says Iran already 'retaliated' against its oil import cut plan
Indian media say Iran has cut by one-third the time it gives to Indian refiners to pay for oil they buy from it and has also raised ship freight rates. in a report quoted informed sources in New Delhi as saying that Iran had designed both measures in retaliation against India’s decision to reduce Iranian oil imports. Iran, India’s third biggest oil supplier, used to give a 90-day credit period to refiners like Indian Oil Corp (IOC) and Mangalore Refinery and Petrochemicals Ltd (MRPL) to pay for the oil they would buy from it, added the ...
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