Indian Refiners Cautious Over Iranian Oil Despite U.S. Waivers

The state refiners in India, the world’s third-largest crude importer, have not shown willingness to purchase Iranian crude that has now been ‘unsanctioned’ by the U.S. for a month, amid concerns about shipping, insurance, and payments, sources with knowledge of the situation told Bloomberg on Tuesday. The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) on Friday issued a general license, which basically authorizes until April 19 imports of Iranian crude loaded on vessels as of March 20. …