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Unpleasant surprise for Washington? US oil sanctions on Iran force India to look to Russia ...News
Escalating US pressure on Iran, including sanctions targeting Iranian oil exports, may have had an unexpected consequence – pushing India to diversify its energy supplies by shifting from Tehran to Moscow as a major oil supplier. State-owned oil refiner Indian Oil Corporation (IOC) has just signed a contract with Russia’s Rosneft for the supply of up to 2 million tons of oil by the end of 2020. The meeting took place on the sidelines of India’s largest weapons fair, DefExpo, currently going on in Lucknow. “This is just the beginning,” Indian Oil Minister Dharmendra Pradhan told reporters after meeting with Rosneft chairman Igor Sechin
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