It is correctly said that in politics there are no permanent friends or foes and under pressure from USA; India has finally reduced its dependence of oil imports from Iran by a whopping 42%.
The dependence has reduced courtesy increase in crude shipments from Venezuela, Iraq and Oman, and thus Iran has gone down the four places to seventh among its suppliers.
India's imports of Iranian oil for May dropped 12.2 percent from a year ago to 213,500 barrels per day (bpd), tanker arrival data compiled by Reuters
The world peace and order takes priority and thus India as a peace loving nation has toed the line in order to enable U.S. and European sanctions to have some considerable effect aimed against Tehran over its suspected pursuit of nuclear weapons.
We could lay hand on one of the charts showing Indian dependence on Iran for crude imports and same can be seen in light of other countries too to get a better perspective of world dependence on crude import from Iran.
You can check out latest crude tips here.
You
should Trade Less But Trade Accurately & this is Achieved with our Tip.
