NEW DELHI (Reuters) – India’s Mangalore Refinery and Petrochemicals Ltd (MRPL) expects India to get a waiver from U.S. sanctions on Iranian oil exports this month, a company official said on Tuesday.
The United States plans to impose new sanctions targeting Iran’s oil sector on Nov. 4 to try to stop the country’s involvement in conflicts in Syria and Iraq and bring Tehran to the negotiating table over its ballistic missile programme.
The Trump administration is actively considering waivers on sanctions for countries that are reducing their imports of Iranian oil, a U.S. government official said earlier this month.
“The waiver should happen pretty fast, hopefully this month,” M. Venkatesh, managing director at MRPL told reporters on the sidelines of the IHS CERA conference.
India is hopeful of waivers as it has made progress on qualifying for exceptions called SRE waivers, or significant reduction exemptions, he said.