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Chennai Petroleum of India says it will end its imports of Iranian crude oil beginning next month, according to sources quoted by Reuters.

The company is ending the relationship in order to keep its insurance coverage once new sanctions against Iran by the United States take effect.

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According to the report, a division of the state-owned National Iranian Oil Company owns 15.4 percent of the stock in Chennai, seriously elevating the risk for the company vis a vis sanctions from the United States.


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Hana Levi Julian is a Middle East news analyst with a degree in Mass Communication and Journalism from Southern Connecticut State University. A past columnist with The Jewish Press and senior editor at Arutz 7, Ms. Julian has written for Babble.com, Chabad.org and other media outlets, in addition to her years working in broadcast journalism.