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International

India: Iranian oil imports slip as some refiners await insurance fund

October 30, 2013 Reprints

India has cut its purchase of crude oil from sanctions-hit Iran, while some refiners wait for New Delhi to back domestic insurers covering plants processing Iranian oil, Reuters reported.

New Delhi plans to establish a sovereign fund to back domestic insurers covering such refineries. Larger cuts in imports are likely as the fund is still not operating.

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India: Iranian oil imports slip as some refiners await insurance fund

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