Crude oil imports from Iran have been on a decline since November last year on the back of fresh US sanctions against the west Asian country. (Shutterstock)The US will not offer oil to India at cheaper rates in the wake of the disruption in supply caused by Washington withdrawing the waiver that allowed India to buy oil from Iran. However, Washington is trying to persuade Saudi Arabia and the UAE to ensure adequate supply to India. The US is working with other countries such as Saudi Arabia and the UAE to ensure adequate oil for India, US Ambassador to India Kenneth Juster told reporters. New Delhi has expressed its concern over oil supplies getting impacted following the US sanctions on oil from Iran.

Source: The Telegraph May 06, 2019 19:41 UTC