"We are continuing to import oil from Iran. Naturally because of many
problems with
regards to insurance and all that, the percentage may not be as high as
has
been in the past. But our imports continue," said Mr. Reddy.
U.S.
and European sanctions against Tehran for its alleged nuclear-weapons
program have created insurance and bank-settlement obstacles for
shipments by
Indian refiners from Iran.
Mr. Reddy said that the imports
aren't declining in absolute numbers, but may
decrease in relative terms.
The minister said that India was
making "gradual" payments to Iran in keeping with international
conditions. His
country is also struggling to find solutions to the insurance and
shipping
problems.