China, India plan Iran oil cuts of 10% or more
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China, India and Japan are planning cuts of at least 10% in Iranian crude imports as tightening US sanctions make it difficult for the top Asian buyers to keep doing business with the OPEC producer.
The countries together buy about 45% of Iran's crude exports. The reductions are the first significant evidence of how much crude business Iran could lose in Asia this year as Washington tries to tighten a financial noose around Tehran. (Reuters)
