India said to stop Iran oil imports in November

India is planning to stop buying crude oil from Iran in November, as it buckles to US pressure to curb oil imports from Tehran, Bloomberg reported.  

Indian Oil Corp. and Bharat Petroleum Corp. haven’t asked for any Iranian cargoes for loading in November, the report said, citing officials at the state-owned oil companies.

Russian energy giant Rosneft-backed Nayara Energy is also not planning any purchases, said an industry executive.

Mangalore Refinery and Petrochemicals Ltd. hasn’t made any nominations for that month, but may do so later, a company official added, as quoted by Bloomberg.

The final decisions on purchases aren’t due until early October, the report added.

US sanctions on Iran's oil exports will go into effect November 4.