India says U.S. understands its need for Iran oil

DUBAI Mon Oct 22, 2012 2:21am EDT

DUBAI Oct 22 (Reuters) - The United States understands India's need for Iranian oil imports, which are steady at a rate of 15 million tonnes per year, Indian oil and gas minister S. Jaipal Reddy said on Monday.

"The United States appreciates the larger needs of the country and it has also seen the efforts we have made to reduce our dependence on Iran imports to a considerable degree," he told Reuters at the World Energy Forum in Dubai.

"And while we respect the United Nations sanctions, we don't want to ignore the requests of other nations."

In June Washington granted India a waiver on sanctions against Iran that would have cut it off from the U.S. financial system for buying Iranian oil. Washington said the waiver was granted because India had reduced its purchases.

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