Reliance Industries has rejected two Iranian oil cargoes as they failed to meet its compliance requirements, the Indian refiner said on Friday, just days before the expiry of a U.S. waiver that
Reliance Industries has rejected two Iranian oil cargoes as they failed to meet its compliance requirements, the Indian refiner said on Friday, just days before the expiry of a U.S. waiver that has lifted sanctions on Iranian oil exports.
Last month, Washington issued 30-day waivers on U.S. sanctions allowing the purchase of Russian and Iranian oil at sea in an attempt to ease prices which soared after U.S.-Israeli strikes on Iran.
Treasury Secretary Scott Bessent on Wednesday said the U.S. would not renew the waivers, with the one on Iranian oil set to lapse on Sunday.
India had allowed Reliance to buy Iranian oil that was loaded on to five tankers, including the aframax Kaviz vessel, and the supertankers Lenore, Felicity and Hedy, all of which were under U.S. sanctions.
Reliance was in talks relating to the Iranian-flagged Derya, carrying 2 million barrels of crude oil, which was anchored near the port of Sikka on India's west coast, ship-tracking data on the MarineTraffic platform showed on Friday.
The vessel was detected around India's coast on April 14, based on satellite analysis from data analytics specialists SynMax.
"RIL did not buy cargo in tanker Derya as it did not meet with
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