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India Holds High-Level Meeting on Oil, Gas Amid Halted Iran Imports - Source

© AP Photo / Rajanish KakadeA cyclist walks past an Indian Oil company in Mumbai, India, (File)
A cyclist walks past an Indian Oil company in Mumbai, India, (File) - Sputnik International
NEW DELHI (Sputnik) - India's Home Ministry held a high-level meeting on petroleum, which was also attended by Foreign Minister Subrahmanyam Jaishankar and Petroleum Minister Dharmendra Pradhan, Home Ministry sources said.

"Home Minister Amit Shah chaired a high-level meeting at the Home Ministry which was attended by Foreign Minister S. Jaishankar, Finance Minister Nirmala Sitharaman, Petroleum Minister Dharmendra Pradhan, Railway Minister Piyush Goyal and Chairman of CEO of NITI Aayog Amitabh Kanth. The discussion was held on issues related to crude oil supplies and investment in the Petroleum and Gas sectors in the country", sources said.

READ MORE: US Threatens EU With Sanctions Over Mechanism to Bypass Iran Penalties — Reports

The chairman of India's Oil and Natural Gas Corporation, Shashi Shankar, and BPCL Chairman and Petroleum Secretary M.M. Kutty, were also present at the meeting.

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The meeting comes amid concerns about how the Indian government will resolve an oil supply crisis after halting imports from Iran to avoid US sanctions. India relied on Iran for some 10 per cent of its oil and has yet to determine how it will make up for the shortfall.

In April, the White House announced that the United States would end waivers for oil sanctions on Iran seeking to bring the country’s oil exports to zero.

Previously eight of Iran’s top oil customers — China, India, Italy, Japan, South Korea, Taiwan, Greece, and Turkey were granted waivers that allowed them to continue buying Iranian oil.

READ MORE: Strategic Expert Accuses India of Heeding Trump on Iran Sanctions, Faces Flak

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