India may not be able to cut Iranian oil imports, despite U.S. demands
September 07, 2018 at 11:37 AM EDT
As the world's third-largest oil importer and the second-largest buyer of Iranian crude after China, complying with U.S. sanctions will require India to find new sources of crude at a higher cost. At a time of rising global oil prices and a weakening national currency, this is going to hurt.