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Indian refiners are settling payments for uncommon cargoes of Iranian lipid purchased nether a impermanent U.S. sanctions waiver utilizing Chinese yuan done Mumbai-based ICICI Bank, 4 sources with cognition of the substance said.
Last month, Washington unveiled 30-day waivers connected U.S. sanctions for the acquisition of Russian and Iranian lipid astatine oversea successful an effort to easiness prices that were driven up by the U.S.-Israeli warfare connected Iran. Treasury Secretary Scott Bessent connected Wednesday (April 15, 2026) said the U.S. would not renew the waivers, with the exemption connected Iranian lipid acceptable to lapse on Sunday.
Difficulties implicit arranging outgo for specified cargoes fixed longstanding sanctions connected Tehran person deterred immoderate would-be buyers of Iranian crude nether the waiver, traders person said.
