India decides to cut 11% crude oil imports from Iran

Amid mounting pressure from United State, Indian government has decided to reduce crude oil imports from Iran by 11.1%, sources say.

According to sources, for cornering a gulf nation Iran, United State is mounting pressure on other countries including to reduce oil imports, so that Iran cannot collect money to strengthen its nuclear project.

The US suspects that under the guise of its peaceful nuclear programme, Iran is building atomic weapons.

In this move, US has mounted pressure on India to cut the Iranian crude oil drastically but India has expressed its helplessness in doing so as India need huge energy for meeting its growing energy programme and it can not be possible through cutting crude oil import.

Iran is the second biggest crude oil exporter to India after Saudi Arabia. It fulfill India?s 12% crude oil necessity while India imports 80% of its total required crude oil.

"The target fixed for import of crude oil from Iran for the year 2012-13 is approximately 15.5 million tonnes," Minister of State for Petroleum and Natural Gas R.P.N. Singh told the Rajya Sabha.

Total crude oil imported from Iran by Indian companies during 2010-11 and 2011-12 was 18.50 million tonnes and 17.44 million tonnes, respectively, Singh said in a written reply.

--With IANS Inputs--