India is negotiating with the US for exemptions from “extended sanctions” to maintain its current level of crude oil imports from Iran, but the country is also under pressure from the US administration to halt all crude purchase from Venezuela. According to officials here familiar with ongoing negotiations, India has reduced crude oil purchase from Iran since the US administration imposed sanctions on Iran, but is seeking an extension of exemptions granted earlier to maintain its current lower level of 1.25-million tons a month crude purchase from the Persian Gulf nation.
