ISIS Iran Report

India’s Reliance to halt gasoline exports to Iran

India’s Reliance to halt gasoline exports to Iran photo

January 10, 2009

Reliance Industries, an Indian company which operates the world’s largest oil refinery at Jamnagar, on the west coast of India, announced this week that it would halt exports of gasoline to Iran once its current contracts were fulfilled.  The move follows a December 2008 letter from eight U.S. legislators to the Ex-Im Bank calling on the bank to suspend financing to Reliance until the shipments to Iran ended.  The Bank provided $900 million in loan guarantees for the expansion of the refining complex, which was completed just as the global demand for energy slowed.  A statement by Rep. Brad Sherman (R-CA) describing the letter he signed can be found here.

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