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Full Article Images of December Best photos of the year Follow Reuters Facebook Twitter RSS YouTube Read Romney says he is taxed at around 15 percent rate 17 Jan 2012 Internet blackout against U.S. law fails to enlist big sites | 17 Jan 2012 Coastguard heard pleading with Italian ship captain 17 Jan 2012 Coastguard heard pleading with Italian ship captain | 17 Jan 2012 New Jersey governor wants all tax brackets cut by 10 percent 17 Jan 2012 Discussed 142 Buffett to GOP: You pay and so will I 123 Romney opens 21-point lead in South Carolina: Reuters/Ipsos poll 83 Ohio woman loses appeal on ”White Only” pool sign Watched Audio of ship evacuation call released Tue, Jan 17 2012 Amateur video shows cruise ship evacuation Mon, Jan 16 2012 Planes, blades, automobiles at new James Bond exhibit Mon, Jan 16 2012 India says not seeking Iran oil waiver from U.S. Tweet Share this Email Print Related News India not seeking Iran oil waiver from U.S.: official Tue, Jan 17 2012 Obama's olive branch to Iran turned into sanctions hammer Fri, Jan 13 2012 Iran clerics urge unity as nuclear scientist buried Fri, Jan 13 2012 U.S. slaps sanctions on China state energy trader over Iran Thu, Jan 12 2012 Iran embargo gathers support in Asia and Europe Thu, Jan 12 2012 Analysis & Opinion Press Round-up – January 17 China will fudge Iran oil sanctions Related Topics World » United Nations » NEW DELHI | Tue Jan 17, 2012 9:32pm EST NEW DELHI (Reuters) - India is not seeking a waiver from the United States that would protect buyers of Iranian oil from a fresh round of sanctions, and New Delhi continues to import from Tehran, Indian Foreign Secretary Ranjan Mathai said on Tuesday. New U.S. sanctions, authorized on December 31, penalize any financial institution dealing with Iran's central bank and could make it more difficult for India to pay Iran for oil imports. An Indian delegation is currently in Tehran for talks. The U.S. still allows waivers for firms in countries that significantly reduce dealings with Iran or when it is either in the U.S. national interest or necessary for energy market stability. Japan, South Korea and Turkey have all said they could seek waivers. But Mathai said New Delhi was not seeking an exemption and implied it did not see the new sanctions as binding. "We have accepted sanctions which are made by the United Nations. Other sanctions do not apply to individual countries," Ranjan Mathai told reporters. "We continue to buy oil from Iran." Asia's third-largest economy is striving to balance the need to keep importing about $12 billion of Iranian crude annually with a preference to avoid upsetting warming ties with Washington. The United States and its allies in Europe and elsewhere are putting pressure on Iran to curb a nuclear program they say is aimed at developing an atom bomb. Iran says its goal is to produce nuclear power. Previous sanctions already made it harder for India to import the 350,000-400,000 barrels per day (bpd) it buys from Iran, about 12 percent of its oil needs. In 2010, the central bank scrapped a long-standing clearance mechanism, triggering a scramble by importers to find a new way to pay. Since last year, Turkey's Halkbank has routed India's payments to Iran, but that conduit is seen by the government as unstable in the face of the latest U.S. sanctions. Halkbank has already refused to open an account for state-run Bharat Petroleum Corp for oil from Iran. An Indian official delegation is now in Tehran trying to find a way to continue the oil trade. "A ... delegation is on its way to work out the mechanism for continued purchase of oil from Iran and to work out the financing mechanism," Mathai said. Mohsen Qamsari, head of international affairs at the National Iranian Oil Co., told the Oil Ministry's website SHANA on Tuesday there was no problem in doing business with India. "Iran's credit from India has been completely reimbursed, and the money flow issue from this country is proceeding normally with no problem," Qamsari said. Qamsari also said Iran did not have any unsold oil as there was a good appetite for the Islamic state's oil. "Right now, there is no oil on the water ... There are many requests for buying Iran's crude, and we don't have extra oil to sell," he said. (Reporting by Nidhi Verma in New Delhi; Additional Reporting by Ramin Mostafavi in Tehran; Editing by Jane Baird) World United Nations Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (3) politicaljunkie wrote: Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Advertise With Us Connect with Reuters Twitter Facebook LinkedIn RSS Podcast Newsletters Mobile About Privacy Policy Terms of Use Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. 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