India studying implications of US decision to end waivers granted to buy Iranian oil

India is studying the implications of the US decision to end waivers granted to it along with seven other countries to buy Iranian oil without facing sanctions. Government sources said that New Delhi will make a statement at an appropriate time in this regard. India is the second biggest purchaser of Iranian oil after China. 

Earlier, the US decided to end exemptions from sanctions for countries still buying oil from Iran. In a statement, the White House said that five countries - India,



China, Japan, South Korea and Turkey will no longer be exempt from US sanctions if they continue to import oil from Iran after their waivers end on the 2nd of May. 

After the announcement, US Secretary of State Mike Pompeo told reporters that there are no oil waivers that extend beyond that period. In November, the US granted a six-month waiver to India and other countries to continue importing oil from Iran. The temporary waiver ends on 2nd of next month.