Buyers of Iranian crude oil and condensates imported 13% less in the first quarter of this year versus the corresponding three-month period last year, as India – the Islamic Republic’s second largest oil buyer in recent years – slashed its intakes in February and March.

Delhi in January issued a directive to all Indian refiners to cut their intakes of Iranian crude through March – the end of the Indian fiscal year – to present, at least symbolically, an effort to comply with US sanctions limiting the volumes of Iranian oil countries can lift. (CONTINUED - 560 WORDS)