September 25, 2018 / 3:57 PM / 24 days ago

EXCLUSIVE-India eases oil import rules as it seeks to cut costs

NEW DELHI, Sept 25 (Reuters) - India has for the first time allowed state refiners to buy 35 percent of their oil imports in tankers arranged by the seller, a document reviewed by Reuters showed, enabling them to swiftly tap cheaper cargoes.

The move will help refiners in Iran’s second biggest oil market to boost purchases from alternative sources as U.S. President Donald Trump prepares to halt Iranian oil sales through a new set of sanctions from Nov. 4.

Reporting by Nidhi Verma Editing by Martin Howell and Emelia Sithole-Matarise

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