India struggling to insure Iranian oil imports - minister
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)
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Prime ministerial frontrunner Narendra Modi said he was committed to a policy of no first use of nuclear weapons, seeking to assuage concern after his Hindu nationalist BJP party vowed to revise the nuclear doctrine if elected to power. Full Article