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May 7, 2012 9:55 am

India Plans 20% Cut in Iranian Oil as Secretary Clinton Arrives in New Delhi

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U.S. Secretary of State Hillary Rodham Clinton. Photo: Chad J. McNeeley at DoD.

Business Week – India plans to cut its oil imports from Iran by 20 percent this financial year, four Indian government and refinery officials with direct knowledge of the matter said.

Asia’s third-biggest importer of crude will curtail its purchases from the Persian Gulf nation to 14 million tons from 17.5 million tons in the 12 months ending March 31, the officials said. They asked not to be identified because they aren’t authorized to speak on the subject.

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