India struggling to insure Iranian oil imports - minister

VIENNA Wed Jun 13, 2012 6:29pm IST

A worker counts currency notes at a petrol pump in Siliguri February 5, 2008. REUTERS/Rupak De Chowdhuri/Files

A worker counts currency notes at a petrol pump in Siliguri February 5, 2008.

Credit: Reuters/Rupak De Chowdhuri/Files

Related Topics

VIENNA (Reuters) - India is struggling to find a way to insure oil shipments from Iran after a European ban comes into effect from July 1, Oil Minister S. Jaipal Reddy told reporters in Vienna, where crude producers from OPEC meet on Thursday.

He said government institutions were considering the issue.

"We are struggling to find solutions, I cannot say beyond that," Reddy said, adding sovereign guarantees were "in the process of examination."

India has just secured a waiver from Washington to tighter sanctions on Iran aimed at curbing its nuclear programme after the world's fourth-biggest oil importer cut imports from Tehran, one of its biggest suppliers along with fellow OPEC members Saudi Arabia and Iraq.

(Reporting by Dan Fineren; Editing by Jo Winterbottom and William Hardy)

FILED UNDER:

Religion and Politics

REUTERS SHOWCASE

Fund Raising

Fund Raising

Flipkart raises $700 million in fresh funding.   Full Article 

Reforms Push

Reforms Push

Modi may order insurance, coal reforms if vote delayed - officials.  Full Article 

Reuters Exclusive

Reuters Exclusive

India looks to sway Americans with nuclear power insurance plan  Full Article 

To Boost Growth

To Boost Growth

Crank up public spending to revive growth - chief economic adviser.   Full Article 

Bold Steps

Bold Steps

SpiceJet rescue plan marks bold bet on Indian aviation recovery.   Full Article 

New Airline

New Airline

Tata, Singapore Air venture Vistara to take off on Jan 9.  Full Article 

Online Sales

Online Sales

Knock knock. Who's there? Amazon's best-selling holiday author.  Full Article 

Hacking Attack

Hacking Attack

N.Korea says did not hack Sony, wants joint probe with U.S.  Full Article 

Reuters Poll

Reuters Poll

BSE Sensex to hit 32,980 by December 2015  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage