Ministers have expressed in the parliament that the government is intending to reduce crude oil imports from Iran by as much as 11.1 per cent during the 2012-13 fiscal.

Minister of State for Petroleum and Natural Gas, RPN Singh said, "The target fixed for import of crude oil from Iran for the year 2012-13 is approximately 15.5 million tones." Mr Singh said that the Indian companies during 2010-11 was 18.50 million tones and was 17.44 million tones during 2011-12.

India imports about 80 per cent f its crude oil requirements from international markets and out of the total import about 12 per cent comes from Iran. Iran is India's second largest oil supplier. Iran is struggling to find buyers for its crude oil in the international markets due to sanctions by the European countries and US.

The governments in Europe and the US are urging Asian countries to reduce oil imports from Iran so as to make their sanctions more effective in order to force Tehran to come clean on its nuclear programme. Iran is suspected of covertly developing nuclear weapons, a charge it denies and maintains that it has the right to harness civilian nuclear energy for generating power.

India's union finance minister Pranab Mukherjee had earlier said that it won't be possible for the country to reduce its oil imports from Iran but the indications are that India will align itself more with the international stand.