Reliance Buys 5 Million Barrels of Iranian Oil After U.S. Waiver
Reuters reports that Reliance purchased 5 million barrels of Iranian oil following a U.S. waiver, marking a notable energy trade development involving India and Iran.
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Terms & Concepts
U.S. waiver: An official exemption that permits activity otherwise restricted under U.S. rules or sanctions.
Oil barrels: A standard energy market unit used to measure crude oil volumes in global trade.
Iranian oil trade: Cross-border crude purchases involving Iran, often affected by sanctions and regulatory approvals.