India: Iranian oil imports slip as some refiners await insurance fund
Posted On: Oct. 30, 2013 12:00 AM CSTIndia 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.