Iran crude oil imports dips to 1.7 mt in FY20, down from 23.9 mt in FY19

This comes at a time of increasing imports from the US, which rose from 1.9 mt in 2017-18 to 6.2 mt in 2018-19. In H1FY20, India imported 5.4 mt from the US.

Imports of crude oil from Iran dipped to 1.7 million tonne (mt) in the current financial year (2019-20, or FY20), down from 23.9 mt in 2018-19, after India stopped imports from the West Asian country in May. In FY19, Iran was the third largest crude exporter to India.
 
Assuming the United States' (US') sanctions are not lifted, crude imports from Iran will be the lowest in at least 12 years, shows the available data compiled by Business Standard. On the other hand, industry players claim this to be one of the all-time low from Iran.
 
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