US-Approved Iranian Barrels Find a Cautious Reception in India

India’s state-run refiners, eager for prompt crude supplies, are holding off purchases of US-approved Iranian oil and products as payment, shipping and insurance hurdles complicate potential transactions, according to people familiar with the matter.

The US issued its third waiver for restricted oil on Friday, allowing purchases of Iranian oil already on the water in the Trump administration’s latest effort to cool rising prices with additional supply. Washington had earlier issued two such measures, covering seaborne Russian oil.