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Record Iranian oil imports for India in July

Record Iranian oil imports for India in July

Iran was hoping to sell more than 500,000 bpd of oil to India in 2018/19, its oil minister Bijan Zanganeh said in February.

The U.S. has been unable to persuade China to cut Iranian oil imports, according to two officials familiar with the negotiations, reports Bloomberg.

Purchases from Iran could slow from August as imports from Tehran are getting tougher after the United States in May pulled out of a 2015 nuclear deal and announced the renewal of sanctions against Tehran. "If the Iranians demonstrate a commitment to make fundamental changes in how they treat their own people, reduce (what he called) their malign behavior, can agree that it's worthwhile to enter into a nuclear agreement that actually prevents proliferation, then the president said he's prepared to sit down and have the conversation with them".

If the USA wants negotiations, it should stop pressures and sanctions, Qasemi was quoted as saying by official IRNA news agency.

Iranian protesters have attacked a religious school in Karaj province near Tehran, a conservative Iranian news agency has said, as sporadic protests simmered ahead of the reimposition of U.S. sanctions.

But Trump, a long-time critic of the deal who succeeded Barack Obama as president a year ago, pulled out of the pact despite repeated assurances by United Nations inspectors that Iran is in compliance with its obligations.

India's oil imports from Iran last month soared by 85 percent from the 415,000 bpd shipments in July 2017, according to the data obtained by Reuters.

Washington's withdrawal from the landmark Iran nuclear deal was criticized across the world. Worldwide sanctions were lifted under the pact between world powers and Tehran in return for curbs on Iran's nuclear program.

He also said Tehran expects the European countries to bring forward a practical package of proposals to salvage Iranian nuclear deal, also known as JCPOA, after the USA pull-out in May.

Fear over decreasing demand from China triggered a slow down on Friday, after the country's main oil producer Sinopec, trim down its purchase of USA crude.

Rouhani has suggested Iran might block the Strait of Hormuz in response to a shutdown of its oil exports.

Sanctions will also be reapplied to U.S. imports of Iranian carpets and foodstuffs and on certain related financial transactions.

"The unilateral sanctions should be abandoned because they are counterproductive", Chinese Foreign Ministry spokesperson Hua Chunying told reporters. "China will continue to cooperate with Iran adhering to its worldwide obligations", she added.

In April-July, the first four months of this fiscal year, India's oil imports from Iran has risen by an annual 40 percent to about 677,500 bpd, the data showed.

Remaining sanctions - including on Iran's oil and gas sector and central bank - will resume on Nov 5.

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