United States, allies working to compensate for the loss of Iranian oil
NEW DELHI: The United States is working with allies to ensure an adequate global supply of oil after its sanctions prevented nations from buying Iranian crude, secretary of the United States Treasury. Steven Mnuchin He said Friday. He spoke with reporters during a trip to India, which was one of the main importers of Iranian oil until New Delhi stopped shipments this May after US sanctions.
We are working with our allies to make sure there is a significant supply in the oil market to compensate for the sanctions, said Mnuchin, who is on a regional tour to try to get support against Iran. “We are sensitive to the fact that India has huge energy needs. Therefore, we hope to work with India on LNG ( liquefied natural gas ) ... we had productive discussions, ”he added.
Companies in the United States see India as a key buyer of super-cooled gas after Washington's growing trade disputes with Beijing hit exports to China.