Indian refiners cut imports of Iranian oil last month to avoid sanctions by the United States that are set to take effect in November.
Oil prices increased on Friday as U.S. sanctions against Iran threatened to remove a substantial volume of crude oil from world markets.
India’s oil ministry has asked refiners to prepare for a ‘drastic reduction or zero’ imports of Iranian oil from November.
LUXEMBOURG/YANGON: The European Union imposed sanctions on seven senior military officials from Myanmar on Monday, including the general in charge of an operation accused of driving more than 700,000 Rohingya Muslims to flee to Bangladesh.…
President Donald Trump arrived home, insisting his historic summit with Kim Jong Un had ended North Korea's nuclear threat and the world could sleep safer.
France, Britain, Germany and the EU sent the United States a joint official request for their companies to be exempt from punitive measures resulting from fresh US sanctions on Iran.
US President Donald Trump said on Friday he had reached a deal to keep Chinese telecoms giant ZTE running, rolling back some penalties in exchange for security guarantees.
Venezuela ordered the expulsion of the top two US diplomats in the country after Washington tightened sanctions over Nicolas Maduro's re-election.
MOSCOW: Russian Prime Minister Dmitry Medvedev backs the idea of making it a criminal offense for Russians to observe sanctions imposed by the United States, Medvedev said in an interview broadcast on Saturday on state TV channel Rossiya 1.…