We are studying the implications of the decision and will make a statement at an appropriate time.
IOC registered the highest ever sales of petrochemical at 2.53 million tonnes in 2015-16 and refineries had a capacity utilisation of 103.7 per cent.
New Delhi: Government sources said the Centre is "studying the implications" of the US move. The US denial of waiver from sanctions to India means that New Delhi will have to brace for US sanctions if the country imports Iranian oil after early May. Indian government sources said, "We have seen the announcement by the US Secretary of State. We are studying the implications of the decision and will make a statement at an appropriate time."
The US had earlier given six-month waivers to eight countries, including India, China, Japan and South Korea, for exemption from the November 4 deadline.
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