The U.S. might seek to levy penalties against India if Delhi
doesn't significantly reduce its purchases of Iranian oil,
Bloomberg News reported Thursday, citing unnamed U.S.
officials.
A decision on penalties under a new law targeting Iranian oil
sales could take place as early as June 28, Bloomberg reported.
The U.S. government "may not be aware" that state-owned
Mangalore Refinery & Petrochemicals Ltd. plans to reduce oil
imports from Iran starting next month, Bloomberg reported, citing
two officials with direct knowledge of the matter.
In an interview with Bloomberg, Indian Foreign Ministry
spokesman Syed Akbaruddin said, "we abide scrupulously by U.N.
authorized sanctions."
While sanctions from individual countries "have an impact on
commercial interactions, from a legal perspective there is nothing
that binds us to follow them," he said, Bloomberg reported.
Full story at
http://www.bloomberg.com/news/2012-03-15/u-s-may-sanction-india-over-level-of-iran-oil-imports.html
-Dow Jones Newswires; 212-416-2900