Business India monitoring costs of importing non-Iranian oil Updated : May 08, 2019 04:04 PM IST Following the withdrawal of the US waiver, India has stopped contracting oil shipments from Iran this weekend. Petroleum Minister Dharmenra Pradhan last month had said that government has put in place a robust plan for the adequate supply of crude oil to Indian refineries. With 80 percent of India's requirements being met through imports, higher-priced oil from non-Iranian sources can make a big dent in the country's current account deficit and forex reserves. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.