Asian oil importers are stepping up efforts to diversify crude sources and Iranian oil payment mechanisms after the US announced it is pressing buyers to completely eliminate Iran imports by November 4.
As refineries companies in Taiwan, Japan, South Korea and UAE seek to reduce imports, in which the ban on Iranian oil has become imminent amid US strictness not to give exemptions to any state to import any Iranian packages, the companies in India are still waiting for the government’s decision to stop the importing of Iranian oil or not.
An official from the United States Department of State stated Tuesday that the US demanded from all countries to halt Iranian oil imports starting November 4.
