india

Updated: Apr 22, 2019 20:46 IST

India is studying the implications of the US decision to end sanctions waiver to India on import of Iranian oil, government sources said Monday. In a move that could have implications on India’s energy security, US President Donald Trump decided not to grant sanctions exemptions to any oil customers of Iran.

In November last year, the US granted waivers to India, China, Japan, South Korea, Taiwan, Turkey, Italy and Greece for a period of six months to import oil from Iran. “We have seen the announcement by the US Secretary of State. We are studying the implications of the decision and will make a statement at an appropriate time,” said a source.

The US re-imposed sanctions on Iran last November, after President Trump pulled out of the landmark 2015 Iran nuclear deal.

“President Donald J. Trump has decided not to reissue Significant Reduction Exceptions (SREs) when they expire in early May. This decision is intended to bring Iran’s oil exports to zero, denying the regime its principal source of revenue,” White House Press Secretary Sarah Sanders said in Washington.