What proportion of the total crude oil imports comes from Iran?
This proportion varies from year to year. In 2018-19, India imported crude oil worth $114.2 billion. As much as 10.6% of this, or oil worth $ 12.1 billion, came from Iran, indicating that a significant portion of India’s oil imports comes from that country. This is not unusual. India is not the only nation importing oil from Iran, one of the world’s largest exporters of crude. In 2018, it accounted for 4% of total global oil exports. India was among eight nations that were granted waivers from US sanctions on import of Iran oil. The others were China, Japan, South Korea, Turkey, Taiwan, Italy and Greece.