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India eases oil import rules as it seeks to cut costs

Updated : September 25, 2018 11:59 PM IST

The move will help refiners in Iran's second biggest oil market to boost purchases from alternative sources as US President Donald Trump prepares to halt Iranian oil sales through a new set of sanctions from Nov. 4.
The measure is part of a series of attempts by the world's third-biggest oil importer and consumer to cut its surging oil import bill in the face of rising oil prices and a weaker Indian rupee.
India eases oil import rules as it seeks to cut costs
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