India delays Iran oil order for May, awaits U.S nod: Reuters
India is not booking Iranian crude oil due to load in May, as refiners in one of Iran’s key oil customers are waiting for more clarity from the U.S. on whether India will get its sanctions waiver extended, Reuters reported on Tuesday, citing four sources. India hopes to have more clarity within ten days on whether the U.S. will extend the sanctions waiver and on the volumes of oil that India would be allowed to purchase in case its waiver is.
IMF sees deeper Iran recession
The International Monetary Fund on Tuesday worsened its forecast for Iran's recession as US sanctions bite, with Tehran's slump denting overall growth in the Middle East and North Africa. The global lender's World Economic Outlook projected Iran's economy will shrink by a massive 6.0 percent this year, its worst performance since it contracted by 7.7 percent in 2012. The latest figure represented a sharp deterioration from October's prediction of a 3.6 percent contraction, as US sanctions batter the Islamic Republic's crucial oil sector.